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The net sales for September 2017 quarter have increased by 26% to Rs 3508.27 crore. OPM increased by 68 bps to 9.1%. The net profit has inclined by 65% to Rs 191.02 crore due to growth in top-line & OPM and fall in interest cost.
Company's Standalone Performance
For quarter ended September 2017
The net sales have increased by 26% to Rs 3508.27 crore. OPM increased by 68 bps to 9.1% due to fall in purchase of stock trade and other expenditure to adjusted net sales. As a result, the operating profit increased by 37% to Rs 317.90 crore.
Other income inclined by 164% to Rs 21.21 crore. Interest cost decreased by 66% to Rs 10.94 crore. Depreciation inclined by 15% to Rs 35.14 crore. The profit before tax inclined by 64% to Rs 293.03 crore
Tax outgo increased by 62% to Rs 102.01 crore. Tax rate declined from 35.2% to 34.8%. The net profit has inclined by 65% to Rs 191.02 crore due to growth in top-line & OPM and fall in interest cost.
For half year ended September 2017
The net sales have increased by 31% to Rs 7106.4 crore. OPM increased by 10 bps to 8.7%. The operating profit increased by 33% to Rs 621.09 crore.
Other income inclined by 241% to Rs 44.08 crore. Interest cost decreased by 41% to Rs 35.28 crore. Depreciation inclined by 16% to Rs 68.85 crore. The profit before tax inclined by 55% to Rs 561.05 crore
Tax outgo increased by 54% to Rs 195.25 crore. Tax rate declined from 35.2% to 34.8%. The net profit has inclined by 56% to Rs 365.8 crore due to growth in top-line and fall in interest cost.
Management Comments
Mr. Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited, said:
Results have been in line with expectations. GST transition has been smooth and has settled across Avenue Supermarts and our partner network's commercial and IT systems.
Valuation
The scrip is trading around Rs 1244.75 at BSE.
The total promoters holding in the company stand at 82.20%.
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