DMart share falls 4% despite strong Q2 business update; adds 377 stores | News on Markets
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DMart share price fell despite the company posting a strong set of quarterly updates for Q2FY25 (July 2024 – September 2024).
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In Q2FY25, the company’s standalone revenue from operations came in at Rs 14,050.32 crore, an increase of over 14 per cent from Rs 12,307.72 crore in the same quarter last fiscal year (Q2FY24).
DMart posted a revenue of Rs 10,384.66 crore in Q2FY23 and Rs 7,649.64 in Q2FY22.
The total number of stores as of September 30, 2024 stood at 377.
DMart financial performance
DMart’s profit rose 17.5 per cent on a year-on-year (Y-o-Y) basis to Rs 773.7 crore in the June quarter of FY25 (Q1FY25), backed by improvement in sales from general merchandise and apparels.
The company had posted a net profit of Rs 658.7 crore in the April-June period a year ago (Q1FY24).
The supermarket chain operator’s revenue from operations soared nearly 19 per cent Y-o-Y to Rs 14,069.1 crore in Q1FY25,
as against Rs 11,865.4 crore in the corresponding quarter last fiscal (Q1FY24).
Its total expenses in the June quarter rose 18.6 per cent to Rs 13,056.61 crore. Meanwhile, the total income jumped 18.5 per cent Y-o-Y to Rs 14,110.74 crore.
DMart background
Avenue Supermarts Limited operates the DMart chain of supermarkets, which offer a wide array of home and personal products. Each DMart store stocks a comprehensive range of items including groceries, toiletries, beauty products, clothing, kitchenware, bedding, home appliances, and more.
Product categories span bed and bath essentials, dairy and frozen foods, fresh produce, crockery, toys, children’s apparel, women’s and men’s clothing, home and personal care items, daily necessities, and DMart’s own private label brands.
Promoted by Radhakishan Damani and his family, DMart has established a robust presence across 196 locations in Maharashtra, Gujarat, Daman, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, the National Capital Region (NCR), Tamil Nadu, Punjab, and Rajasthan. Major cities hosting multiple DMart outlets include Mumbai, Ahmedabad, Vadodara, Bengaluru, Hyderabad, Pune, and Surat.
The market capitalisation of DMart is Rs 3,08,340.10 crore, according to BSE.
At 9:31 AM, DMart shares were trading 3.58 per cent lower at Rs 4,763.35 per share. In comparison, BSE Sensex was down 0.45 per cent at 82,124.96 levels.
First Published: Oct 04 2024 | 9:40 AM IST
