DMart Q4 consolidated net profit rises 3.14 per cent to Rs 427 crore
May 14, 2022
Mumbai (Maharashtra) [India], May 14 : Radhakishan Damani-led Avenue Supermarts (DMart) reported Rs 427 crore consolidated net profit for the quarter ended March 2022 as compared to Rs 414 crore recorded in the corresponding period of last year, posting year-on-year growth of 3.14 per cent.
The company's consolidated revenue rose to Rs 8,786 crore in January-March 2022 period from Rs 7,412 crore recorded in the corresponding quarter of last year, posting year-on-year growth of 18.53 per cent.
Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q4 FY22 stood at Rs 739 crore, as compared to Rs 613 crore in the corresponding quarter of last year. EBITDA margin stood at 8.4 per cent in Q4 FY22 as compared to 8.3 per cent in Q4 FY21.
Commenting on the performance of the company Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited, said, "January 2022 started extremely well but then the Omicron wave of COVID-19 reduced the momentum over the middle of the month. These waves typically hurt the high margin and discretionary items more. As is the trend of the past, recovery does take 40-50 days after restrictions are removed or anxiety of a COVID wave recedes. Omicron was a milder wave and hence had a significantly lower negative impact."
March 2022 month again had robust recovery and very satisfactory like for like growth vis a vis March 2021. In general, the quarter performance and past two waves of stop-start-stop give us extreme confidence on the resilience of the business to recover in the short-term, Noronha said.
Our FMCG business is recovering well. The value proposition is being distinctly seen by our customers in this segment. In the discretionary non-FMCG segment, as of now it is hard to estimate if the relative lower growth is due to a secular change over time due to e-commerce shift or due to inflation or due to significantly higher COVID related negative economic impact for certain shoppers, he added.
The company's consolidated net profit for the full year 2021-22 stood at Rs 1,492 crore as compared to Rs 1,099 crore in FY21.
