DMart Ready, the e-commerce business, commenced operations in one new city(Gurugram) during the year while continuing to deepen its presence in existing cities.
Avenue Supermarts Q4 Results: On DMart s brick-and-mortar business and overall performance, Neville Noronha, CEO and managing director said, “We ended the year with growth across key financial parameters of Revenue, EBITDA and PAT. Two years and older DMart stores grew by 9.9 per cent during FY 2024 as compared to FY 2023." The company said it has 284 stores that are 2 years or older. In the year 2023-24, it has opened 41 new stores taking the total store count to 365.
The profit was Rs 460 crore in the corresponding quarter of the previous financial year. The retailer s EBITDA rose 22.3% YoY to Rs 943 crore while its operating profit margin also a growth of 13 bps at 7.41%.
DMart, which faces intense competition from Reliance Industries Ltd and is known for discounts on everything from pulses to clothes, has seen inflation-weary consumers tighten spending on non-essential purchases.