Avenue Supermarts Q2 outcomes: Consolidated revenue greater than doubles to Rs 418 crore; retailer provides 8 new shops

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NEW DELHI: Avenue Supermarts on Saturday mentioned its consolidated revenue greater than doubled to Rs 418 crore within the September quarter in contrast with Rs 199 crore within the corresponding quarter of final yr.

Consolidated income for the quarter climbed 46.79 per cent YoY to Rs 7,789 crore from Rs 5,306 crore in the identical interval final yr.

Earnings earlier than curiosity, tax, depreciation and amortization (Ebitda) for the quarter got here in at Rs 669 crore in contrast with Rs 330 crore within the corresponding quarter of final yr.

Ebitda margin rose 240 foundation factors YoY to eight.6 per cent within the September quarter in contrast with 6.2 per cent within the year-ago quarter. PAT margin was up 160 foundation factors to five.3 per cent from 3.7 per cent YoY.

“Covid-19 associated lockdown restrictions had been eased additional throughout this quarter. Income within the DMart shops grew by 46.6 per cent over the corresponding quarter of final yr. Two years and older DMart shops grew by 23.7 per cent within the month of September 2021 as in comparison with September 2020. Now we have 187 shops which might be 2 years or older,” mentioned Neville Noronha, CEO & Managing Director, Avenue Supermarts.

Noronha mentioned his firm carried out a comfortable launch of DMart Prepared within the cities of Surat and Vadodara. He mentioned greater than 96 per cent of DMart’s eligible workers have taken their second dose of vaccination.

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