Profit before tax stood at Rs 1,054.13 crore in the quarter ended 30 June 2024, up 17.48% from Rs 897.26 crore recorded in Q1 FY24.

Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) stood at Rs 1,221 crore in Q1FY25, registering the growth of 17.97% as compared to Rs 1,035 crore in the corresponding quarter of last year. EBITDA margin stood at 8.7% in Q1 FY25 same as Q1FY24.

The company follows Everyday low cost - Everyday low price (EDLC-EDLP) strategy which aims at procuring goods at competitive prices, using operational and distribution efficiency and thereby delivering value for money to customers by selling at competitive prices.

On Standalone basis, the company’s net profit jumped 16.83% to Rs 812.45 crore in Q1 FY25 as compared with Rs 695.36 crore in Q1 FY24. Revenue from operations increased 18.36% to Rs 13,711.87 crore in the quarter ended 30 June 2024 as compared with Rs 11,584.44 crore posted in quarter ended 30 June 2024.

The company added 6 stores in Q1 FY25. Total stores stood at 371 as on 30 June 2024.

Neville Noronha, CEO & managing director, Avenue Supermarts, said: “Our revenue for Q1 FY 2025 grew by 18.4%. Contribution from general merchandise and apparel continued to improve during the quarter and this is reflected in the gross margin uptick (Q1 FY 2025 vs Q1 FY 2024). We opened 6 new stores during the quarter. Our total stores stand at 371 as on June 30, 2024. Operating costs have gone up due to continuing effort on improving service levels and building capability for the future.”

Mumbai-based Avenue Supermarts owns and runs the popular D-Mart stores, a national supermarket chain offering a variety of home and personal products.

The scrip advanced 1.15% to ends at Rs 4,953.35 on Friday, 12 July 2024.