D Mart Q1 net profit up by 33.8% at INR 335 crore

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Standalone Total Revenue for the quarter up by 26.8% at Rs. 5,781 crore.

Avenue Supermarts Ltd. (ASL), the company behind F&G chain Dmart, declared its standalone and consolidated financial results for the quarter ended June 30, 2019.

For the Quarter ended June 30, 2019 (Q1FY20):

Standalone results

• Total Revenue stood at Rs. 5,781 Crore, up by 26.8% y-o-y
• EBITDA of Rs. 596 Crore; y-o-y growth of41%
• PAT at Rs.335 Crore; y-o-y growth of 33.8%
• Basic EPS for Q1FY20 stood at Rs.5.37, as compared to Rs. 4.02 for Q1FY19
• 8 Stores were added in the Q1FY20

Standalone results

Total Revenue for the quarter ended June 30, 2019 stood at Rs. 5,781 crore, as compared to Rs. 4,559 crore in the same period last year. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q1 FY20 stood at Rs. 596 crore, as compare to Rs. 423 crore in the corresponding quarter of last year. EBITDA margin improved from 9.3% in Q1 FY19 to 10.3% in Q1 FY20.

Net Profit of Rs. 335 crore for Q1 FY20, as compared to Rs. 251 crore in the corresponding quarter of last year. PAT margin improved from 5.5% in Q1 FY19 to 5.8% in Q1 FY20.

Basic Earnings per share (EPS) for Q1 FY20 stood at Rs. 5.37, as compared with Rs. 4.02for Q1 FY19.

Consolidated results

Total Revenue for the quarter ended June 30, 2019 stood at Rs. 5,815crore, as compared to Rs. 4,576 crore in the same period last year. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q1 FY20 stood at Rs. 597 crore, as compared to Rs. 423 crorein the corresponding quarter of last year. EBITDA margin improved from 9.2% in Q1 FY19 to 10.3% in Q1 FY20.

Net Profit of Rs. 323 crore for Q1 FY20, as compared to Rs. 245 crore in the corresponding quarter of last year.PAT margin improved from 5.3% in Q1 FY19 to 5.5% in Q1 FY20.

Basic Earnings per share (EPS) for Q1 FY20 stood at Rs. 5.18, as compared with Rs. 3.93 for Q1 FY19.

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 “Revenue growth was inline with our expectations. Gross margin was slightly ahead of our expectations and our continued operational efficiency has resulted in higher PAT margins. As we have said in the past, Q1 margins are not usually a reflection of the entire year.

We opened 8 stores in this quarter, large part of which are a spillover from the previous quarter.”