• About
  • Contact
Monday, March 8, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home News

Avenue Supermarts 2nd Quarter Profits Rises To 48% YoY to Rs 323 crore

Pritish raj by Pritish raj
October 14, 2019
in News, Retail
2 min read
0
DMart Store Avenue Supermart Profit

DMart Store- Next Big Brand

Share on FacebookShare on Twitter
  • In the quarter ended 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.
  • At Tuesday’s price, DMart market capitalization is Rs. 1.18 lakh crore while Titan Industries is valued at Rs. 1.14 lakh crore. The earnings growth of DMart is directly linked to store additions, something which the company can now do given the position they are in.

In the quarter ended 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.

The shares of Avenue Supermart have risen up 17 percent, the highest among consumer and retail stocks, since the announcement of a cut in corporate tax rates by finance minister Nirmala Sitharaman and have a hit record. The company overtook Titan Industries in terms of market capitalization. At Tuesday’s price, DMart market capitalization is Rs. 1.18 lakh crore while Titan Industries is valued at Rs. 1.14 lakh crore. The earnings growth of DMart is directly linked to store additions, something which the company can now do given the position they are in. The low tax will leave more cash in the hands of the retailer and will reduce the payback period for its investments.

From the launch of its first store in Powai in 2002, D-Mart today has a well-established presence in 176 locations across Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab, and Rajasthan. At the time of its IPO last year, the company was valued at Rs 40,000 crore and the projected growth rate was 40 percent.

The supermarket chain of D-Mart stores is owned and operated by Avenue Supermarts Ltd. (ASL). The brands D Mart, D Mart Minimax, D Mart Premia, D Homes, Dutch Harbour, etc are brands owned by ASL D-Mart is widely known to be a one-stop shopping destination to meet all the household needs of a family.

It offers a wide variety of products including – home utility products, foods, toiletries, beauty products, garments, kitchenware, bed and bath linen, home appliances, Toys & Games, Stationery, Footwear, and a lot more.

Tags: Avenue Supermart ProfitsDMart Stores
Previous Post

120 Air India Pilots Resign Amid Growing Salary Issues

Next Post

Bharti Airtel Stocks Rise By 16%, Regains ₹ 2 trillion m-cap

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

Kanika Tekriwal: Flying High with her Private Aviation Startup JetSetGo
Industries

Kanika Tekriwal: Flying High with her Private Aviation Startup JetSetGo

March 8, 2021
Richa Kar- Fought against all Odds to Establish Zivame, an Online Lingerie Platform
News

Richa Kar- Fought against all Odds to Establish Zivame, an Online Lingerie Platform

March 7, 2021
Divya Gokulnath: Women Power Behind the Success of Byju’s
News

Divya Gokulnath: Women Power Behind the Success of Byju’s

March 6, 2021
Vineeta Singh-CEO of SUGAR: NBB
News

Vineeta Singh: an IIM Alumnus who Turned Down 1 Crore Job Offer for Startup Journey

March 5, 2021
Walmart owned Flipkart Eyes IPO through SPAC Route
News

Walmart owned Flipkart Eyes IPO through SPAC Route

March 5, 2021
Noise ranked as India’s No.1 Wearable Watch Brand in 2020 by IDC
News

Noise ranked as India’s No.1 Wearable Watch Brand in 2020 by IDC

March 5, 2021
Next Post
Bharti Airtel FDI Wi-Fi Calling- Next Big Brand

Bharti Airtel Stocks Rise By 16%, Regains ₹ 2 trillion m-cap

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.

RECOMMENDED NEWS

Reliance Foundation- Next Big Brand

Reliance’s Work For Corona Response Is Most Resonating: Twitter,LinkedIn

11 months ago
Nithin Kamath Zerodha- Next Big Brand

Nithin Kamath- Story Of Creator Of India’s Trading Unicorn Zerodha

1 year ago
Sundar Pichai Google CEO- Next Big Brand

Google CEO Sundar Pichai Named CEO Of Parent Firm Alphabet

1 year ago
Gaurav Gupta Moves From COO Role At Zomato; To Lead Zomans

Gaurav Gupta Moves From COO Role At Zomato; To Lead Zomans

4 months ago

FOLLOW US

  • 29.1k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Kanika Tekriwal: Flying High with her Private Aviation Startup JetSetGo
  • Richa Kar- Fought against all Odds to Establish Zivame, an Online Lingerie Platform
  • Divya Gokulnath: Women Power Behind the Success of Byju’s

Instagram

Follow Me!

Latest News

Kanika Tekriwal: Flying High with her Private Aviation Startup JetSetGo

Kanika Tekriwal: Flying High with her Private Aviation Startup JetSetGo

March 8, 2021
Richa Kar- Fought against all Odds to Establish Zivame, an Online Lingerie Platform

Richa Kar- Fought against all Odds to Establish Zivame, an Online Lingerie Platform

March 7, 2021
  • 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
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

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.