Radhakishan Damani’s company DMart made 132% profit, 31% increase in revenue-radhakrishnan-damani-avenue-supermarts-q1-results-d-mart-profit-jumps-132-percent-to-rs-115- crore– News18 Hindi

New Delhi. Avenue Supermarts Ltd, the company of Radhakishan Damani, a veteran investor and one of India’s famous rich, on Saturday announced the results of the first quarter of the current financial year (2021-22). In the June quarter, the company’s standalone net profit stood at Rs 115.13 crore, up 132.3 per cent. Let us tell you that Avenue Supermarts Limited operates the retail chain DMart.

In the first quarter, the company’s income grew by 31.3 percent year-on-year to Rs 5031.75 crore. Talking on the company’s results, its CEO and Managing Director Neville Noronha said that in the first quarter of the financial year 2021-22, the second wave of Corona was more affected. The opening period of the company’s stores has been less in this period as compared to the corresponding period last year. In this period, due to Corona restrictions in different places, the period of opening of stores has been different. The effect of which was seen on the performance of the company.

He also said that the footfall in the company’s stores has been high on a year-on-year basis in the first quarter despite the short period of opening of the stores. Due to which there has been an increase in sales. Apart from this, 22 new stores of the company were also started during this period, which benefited the company.

EBITDA up 103%
In the first quarter, the company’s EBITDA grew by 103.2 percent to Rs 221.22 crore. Similarly, the EBITDA margin has also increased by 155 basis points on a year-on-year basis to 4.39 percent. The company has opened 4 new stores during the quarter ended June 2021. Its total number of stores has increased to 238.

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On a consolidated basis, the company’s profit has increased by 137.9 percent in the first quarter of FY 2022 and it has been at Rs 95.37 crore. Similarly, there has been a jump of 35.5 percent in its revenue and it has reached Rs 5183.12 crore.

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