Avenue Supermarts Ltd, which owns and operates the retail chain D-Mart, reported a 17 per cent rise in its consolidated net profit to Rs 690.41 crore for the third quarter ended December 31. The company had posted a net profit of Rs 589.64 crore in the October-December quarter a year ago, according to a regulatory filing by Avenue Supermarts. Its revenue from operations grew 17.31 per cent to Rs 13,572.47 crore during the quarter under review against Rs 11,569.05 crore in the corresponding quarter of the last fiscal. Avenue Supermarts’ total expenses rose 17.31 per cent to Rs 12,656.46 crore in the third quarter of this fiscal. Its total income in the December quarter increased 17.28 per cent to Rs 13,605.39 crore.
The total number of stores stood at 341 as of December 31, 2023. Meanwhile, in a separate filing, Avenue Supermarts said its board has appointed Harishchandra M Bharuka as an Independent Director of the company. Promoted by Radhakishan Damani and his family, DMart retails basic home and personal products across markets, including Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab and Rajasthan.
