Other income fell 37.83% to Rs 31.46 crore.  Provision for interest rose 22.90% to Rs 10.84 crore.  

Provision for depreciation rose 13.36% to Rs 107.44 crore.  

Profit before tax grew 133.72% to Rs 137.36 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 42 crore, compared to Rs 18.69 crore.  Effective tax rate was 30.58% compared to 31.80%.

Net profit attributable to owners of the company increased 137.89% to Rs 95.37 crore.  

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

Commenting on the performance of the company Mr. Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited, said: "Q1 FY 2021-22 saw a much stronger second wave of Covid-19 restrictions. We lost significantly more days or had higher restriction on number of hours of store operations compared to the same period last year.

He further said "Revenues have grown by 31% over the corresponding quarter of last year. This is because the lockdown periods were at different times in different regions during the quarter. Some cities announced early lockdowns and continue to have stringent measures in place even now while some cities eased the restrictions within 3-4 weeks after their early lockdown. There were also cities which announced lockdowns much later and are now in the process of relaxing them. Despite lesser hours of operations this time, we had more customer footfalls than in the same period last year and this has translated into higher sales. One of the key reasons for this is that even though restrictions on operations were more severe, personal mobility was relatively less stringent than last time. Additionally, we also had 22 new stores that were opened post Q1 FY 2020-21. Lockdown measures are now gradually reducing across multiple cities. Across these multiple periods of lockdowns we have come to realize that a store needs at least 45 days of unhindered operational time to get back to pre-Covid sales momentum. We have not seen any significant impact on our supply chain during the quarter. Our inventory is also gradually moving towards normal levels. Construction activity has also commenced at all our sites."

On DMart Ready Mr Neville Noronha commented that the business continued its gradual expansion across the MMR region, Ahmedabad, Pune, Bangalore and Hyderabad. Thus far the results on topline are very encouraging. The second wave has given further impetus to the business.