Sales for Avenue E-Commerce (AEL), its online subsidiary was Rs2202 crore, a 32% jump while net loss widened to Rs 194 crore, as per its latest annual report. The online business brand, DMart Ready, had posted a loss of Rs 142 crore on sales of Rs 1667 crore in the previous fiscal year.
Avenue Supermarts, the operator of DMart retail chain, saw sales at its online grocery unit cross Rs 2000 crore in FY23 but losses widened as it expanded into newer geographies. Sales for Avenue E-Commerce (AEL), its online subsidiary was Rs2202 crore, a 32% jump while net loss widened to Rs 194 crore, as per its latest annual report. The online business brand, DMart Ready, had posted a loss of Rs 142 crore on sales of Rs 1667 crore in the previous fiscal year.
DMart profit jumps 52% to ₹414 crore in Q4
May 09, 2021
Company says at least 80% of its operations were impacted due to Covid curbs
DMart has reported a 52 per cent growth in net profit to ₹414 crore in the fourth quarter of FY21 compared to a profit of ₹271 crore in the corresponding quarter last year. The company said that at least 80 per cent of its operations were impacted because of the Covid-19 restrictions. Its revenue increased 18 per cent during the period to ₹7,411.68 crore.
Avenue Supermart’s earnings before interest, tax, depreciation and amortisation (EBITDA) in Q4FY21 stood at ₹613 crore, an increase of 47 per cent from ₹417 crore in the corresponding quarter of last year. The Retail chain’s expenses for FY21’s fourth quarter stood at ₹6,916.24 versus ₹5,957.53 same time last fiscal.
Avenue Supermarts FY21 net profit falls 13.7% to Rs 1,165 crore
For January-March quarter, the company s net profit zoomed 51.6 per cent to Rs 435 crore, while total revenue also grew 17.9 per cent to Rs 7,303 crore.
BusinessToday.In | May 8, 2021 | Updated 22:15 IST
Avenue Supermarts said significant disruptions have been seen from March 2021 onwards in its store operations.
Avenue Supremarts, which owns and operates retail chain D-Mart, reported a 13.7 per cent year-on-year decline in net profit at Rs 1,165 crore for financial year 2020-21, hit by the coronavirus pandemic.
While total revenue declined 3.6 per cent to Rs 23,787 crore, earnings before interest, tax, depreciation and amortisation (EBITDA) also fell 17.9 per cent to Rs 1,742 crore in FY21. EBITDA margin contracted to 7.3 per cent in FY21 as against 8.6 per cent in FY20.