ASL Q3 Total Revenue up by 33.2% at INR 5451 crore

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Avenue Supermarts Ltd. (ASL), one of the largest food & grocery retailers in India, today declared its financial results for the quarter and nine months ended December 31, 2018.

Total Revenue for the quarter ended December 31, 2018 stood at INR 5,451 crore, as compared to INR 4,094 crores in the same period last year, reflecting a growth of 33.2%

ASL’s Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q3FY19 stood at INR 453 crores, up by 7.5%.

Highlights:

For the Quarter ended December 31, 2018 (Q3FY19):

• Total Revenue stood at Rs. 5,451 crores, y-o-y growth of 33.2%
• EBITDA of Rs. 453 crores; y-o-y growth of 7.5%
• PAT stood at Rs. 257 crores; y-o-y growth of 2.1%
• Basic EPS for Q3FY19 stood at Rs. 4.12 , as compared to Rs. 4.03 for Q3FY18
• 4 stores were added in the Q3FY19

For the Nine months ended December 31, 2018 (9MFY19):

• Total Revenue stood at Rs. 14,883 crores, y-o-y growth of 32.9%
• EBITDA of Rs. 1,266 crores; y-o-y growth of 21.4%
• PAT stood at Rs. 733 crores; y-o-y growth of 18.8%
• Basic EPS for 9MFY19 stood at Rs. 11.75 , as compared to Rs. 9.90 for 9MFY18
• 9 stores were added in the 9MFY19

 

The company’s EBITDA margin is at 8.3% in Q3FY19 as compared to 10.3% in Q3FY18.

Net Profit is at INR 257 crores for Q3FY19 as compared to INR 252 crores in the same period last year. PAT margin is at 4.7% in Q3FY19 as compared to 6.1% in Q3FY18.

Basic Earnings per share (EPS) for Q3FY19 stood at INR 4.12 as compared with INR 4.03 for Q3FY18.

Total Revenue for 9MFY19 stood at INR 14,883 crore as compared to INR 11,199 crore during 9MFY18, a growth of 32.9%.
EBITDA in 9MFY19 stood at INR 1,266 crore, up by 21.4%. EBITDA margin is at 8.5% in 9MFY19 as compared to 9.3% in 9MFY18.

Net Profit is at INR 733 crore for 9MFY19 as compared to INR 618 crore in 9MFY18. PAT margin is at 4.9% in 9MFY19 as compared to 5.5% n 9MFY18.

For 9MFY19, Basic EPS stood at INR 11.75 as against INR 9.90 in 9MFY18.

D-Mart follows Everyday low cost – Everyday low price (EDLC-EDLP) strategy which aims at procuring goods at competitive price, using operational and distribution efficiency and thereby delivering value for money to customers by selling at competitive prices.

Commenting on the financial performance of the company Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited, said, “Topline continued to grow well even though PAT growth remained flat vis a vis the corresponding quarter last year, primarily due to Gross Margin reduction on account of price cuts. We constantly strive to give better prices to consumers and our cost leadership allows us to do that. Operating costs inched upwards due to preloading of certain expenses primarily around capability building across infrastructure and people. Good times allow us to invest for the future right now. We also overspent a little to manage the festival season better through longer operating hours. We continue to operate longer hours in certain stores even after the festive period.”