• About
  • Contact
Monday, June 27, 2022
  • Login
Next Big Brand
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail
No Result
View All Result
Next Big Brand

Avenue Supermart Q3 net profit jumps 53% to Rs 394 crore

Pritish raj by Pritish raj
January 13, 2020
in News, Retail
Reading Time: 2 mins read
A A
0
DMart Store Avenue Supermart Profit

DMart Store- Next Big Brand

  • Avenue Supermart (D-Mart) reported a 53.3 percent year-on-year increase in standalone profit at Rs 394 crore compared to Rs 257 crore posted last year for the same quarter.

On Saturday, Avenue Supermart (D-Mart) reported a 53.3 percent year-on-year increase in standalone profit at Rs 394 crore compared to Rs 257 crore posted last year for the same quarter.

Revenue for the quarter increased to Rs 6,752 crore by 23.90 percent compared to Rs 5,451 crore reported for the year-ago period. Ebitda rose year by year to Rs 593 crore from Rs 453 crore. The quarter’s Ebitda margin stood at 8.8 percent, an increase of 50 basis points over 8.3 percent in the quarter of December 2018.

“Our growth on the top line was in line with estimates. Improvement of the PAT margin partly represents the gain from a reduction of corporate tax rates. In the first nine months of this financial year we have opened 20 stores,’ said Neville Noronha, CEO & Managing Director, Avenue Supermarts.

The PAT margin for the quarter increased from 4.5 percent in the quarter of August to 5.6 percent, the company said in a BSE filing.

For the year, net profit stood at Rs 384 Crore on a consolidated basis. In the corresponding quarter of last year, the company had earned Rs 247 Crore income.

Similarly, in the second quarter which ended in September 2019, Avenue Supermarts, DMart supermarket chain owner, reported a 47.54 percent year-on-year increase in net income at Rs 322.66 crore on Saturday. In the corresponding period last year, the company posted a net profit of Rs 218.69 crore.

Commenting on the company’s financial results, Neville Noronha, CEO & Managing Director, Avenue Supermarts said, “The quarter’s revenue growth was slightly lower than our expectations, while the gross margin improved over the corresponding period last year due to a better revenue mix. The increase of the PAT margin is aligned with revenue growth and is also accompanied by the reduction of corporate tax rates.

The company’s consolidated total income increased 22.26 percent from Rs 4,906.54 crore in the same period last year to Rs 5,998.90 crore during the quarter under review. In Q2FY20, earnings per share (EPS) jumped from Rs 3.62 in Q2FY19 to Rs 5.34. The company’s share price closed Friday at Rs 1843.25 by 1.23 percent. In the quarter of September, Avenue Supermarts opened 5 stores.

Previous Post

Brands Playing It Safe After Deepika Padukone Visits JNU

Next Post

Heeru Dingra is Now The CEO of WATConsult

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

20220627 152251 0000
News

Proptech Startup PropShare Raises $47 Million Led by WestBridge Capital

June 27, 2022
images 9 17
Cryptocurrency

Christiano Ronaldo and Binance Announce NFT Partnership

June 24, 2022
Khaby Lame Tiktoker
Creators

Khaby Lame Becomes World’s Most Popular TikToker

June 24, 2022
Pine Labs Founder
News

Merchant Platform Pine Labs Acquires Fintech Infra Startup Setu for $70-75 Million

June 23, 2022
Ebay KO
Cryptocurrency

eBay Acquires NFT Marketplace KnownOrigin For An Undisclosed Sum

June 23, 2022
Cashify Founders
News

Cashify Raises $90 Million in Series E Round Led By NewQuest & Prosus

June 23, 2022
Next Post
Heeru Dhingra is Now CEO of WATConsult, Rajiv Dhingra

Heeru Dingra is Now The CEO of WATConsult

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

BROWSE BY TOPICS

Acquiring amazon Apple Brands brand story Byjus byjus news byjus the learning app Cryptocurrency Edtech Startups Elon Musk facebook fintech news Flipkart funding google Indian Crypto Startups Indian OTT Platforms Indian Unicorn Indian Unicorns Indian Unicorns of 2021 Netflix NFT NFT Collection NFT India Non Fungible Tokens Ola OYO Paytm Reliance Retail Startup Acquisition Startup IPO startup news india startups in india Swiggy Tiktok TikTok India Twitter Unicorns of 2022 Unicorns of India Unicorn Startups Upgrad WazirX YouTube Zomato
check more news on that pages youtube converter, filme online 2022, filme porno mature, porno amatoriale, nxnxx.org, https://xvideosxnxx.org, https://xoxporn.net

Instagram

Follow Me!

Recent News

  • Proptech Startup PropShare Raises $47 Million Led by WestBridge Capital
  • Christiano Ronaldo and Binance Announce NFT Partnership
  • Khaby Lame Becomes World’s Most Popular TikToker

Latest News

20220627 152251 0000

Proptech Startup PropShare Raises $47 Million Led by WestBridge Capital

June 27, 2022
images 9 17

Christiano Ronaldo and Binance Announce NFT Partnership

June 24, 2022
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail

© 2019 NBB. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.