D-Mart Q1 Revenue Up 18% YoY: Avenue Supermarts

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Avenue Supermarts Q1 Update: Standalone Revenue Up 18% YoY to Rs 11,584 Crore
Avenue Supermarts, the operator of D-Mart retail chain, has posted a strong growth in its standalone revenue from operations for the first quarter of the financial year 2023-24. The company announced its Q1 business update on July 3, 2023, ahead of its financial results.

According to the regulatory filing, Avenue Supermarts' standalone revenue for the quarter ended June 30, 2023, stood at Rs 11,584.44 crore, an increase of 18 percent compared to the same period last year. The company had reported a standalone revenue of Rs 9,806.89 crore in Q1 FY22.

The revenue growth was driven by the recovery in footfalls and sales across its stores, as the COVID-19 situation improved in most parts of the country. The company also benefited from the expansion of its store network, as it added 12 new stores in Q1 FY24, taking the total number of D-Mart stores to 327 as of June 30, 2023.

Avenue Supermarts is one of the leading players in the value retail segment in India, offering a wide range of products at affordable prices. The company operates under the D-Mart brand, which is known for its efficient operations, customer loyalty and economies of scale.

The company is yet to release its financial results for the April–June 2023 period, which are expected to reflect the impact of the revenue growth on its profitability and margins. In Q4 FY23, Avenue Supermarts had reported a net profit of Rs 460 crore, up by 8 percent sequentially and by 8 percent year-on-year.

Avenue Supermarts' shares closed at Rs 3,865.35 apiece on July 3, 2023, at the BSE, down by 0.63 percent from its previous day's close. The stock has gained over 40 percent in the past one year, outperforming the broader market indices.

Keywords: Avenue Supermarts, D-Mart, Q1 Revenue, Business Update, Growth

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