Avenue Supermarts Ltd. (ASL), one of the largest food & grocery retailers in India, today declared its financial results for the quarter ended June 30, 2018.
For the Quarter ended June 30, 2018 (Q1 FY19):
· Total Revenue stood at Rs.4,559 Crore, up by 26.7% y-o-y
· EBITDA of Rs. 423 Crore; y-o-y growth of 39.4%
· PAT at Rs. 251 Crore; y-o-y growth of 43.4%
· Basic EPS for Q1 FY19 stood at Rs. 4.02, as compared to Rs.2.80 for Q1 FY18
· 2 Stores were added in the Q1 FY19
Total Revenue for the quarter ended June 30, 2018 stood at Rs. 4,559 crore, as compared to Rs. 3,598 crore in the same period last year. ASL’s Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q1 FY19 stood at Rs. 423 crore, as compare to Rs. 303 crore in the corresponding quarter of last year. The company’s EBITDA margin improved from 8.4% in Q1 FY18 to 9.3% in Q1 FY19.
The Company reported Net Profit of Rs. 251 crore for Q1 FY19, as compared to Rs. 175 crore in the corresponding quarter of last year. The company’s PAT margin improved from 4.8% in Q1 FY18 to 5.5% in Q1 FY19.
Basic Earnings per share (EPS) for Q1 FY19 stood at Rs. 4.02, as compared with Rs. 2.80 for Q1 FY18.
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, “This quarter has seen slightly lower gross margins which is a result of our conscious effort to maintain or bring down prices for consumers across categories. Improved Profit after Tax (PAT) for the quarter is due to better operational performance and lower impact of interest cost as compared to last year June quarter. Q1 PAT tends to be better than full year results and hence must not be seen as a reflection of the entire year trend.”
Avenue Supermarts Limited is a Mumbai-based company, which owns and operates D-Mart stores. D-Mart is an emerging national supermarket chain that offers customers a range of home and personal products under one roof.