Decline in numbers
Avenue Supermarts, which runs popular grocery chain D-Mart, reported 38% decline, as compared to last year, in its consolidated net profit for the quarter ending 30 September 2020.
Consolidated revenue decreased by 11% to ₹5,306 crore as against ₹5,991 crore in the year-ago period.
Consolidated PAT margin stood at 3.7% in Q2FY21 as compared to 5.4% in Q2FY20.
Lockdown Restrictions
"Lockdown restrictions due to Covid-19 were further eased during this quarter. Within the continued uncertainty from Covid-19, our business has seen improvement and it continues to gradually progress towards prepandemic levels. Month-on-Month sales have improved during this quarter – August was better than July and September was better than August. The highlight being that footfalls continue to be significantly lower than pre-Covid levels but basket values are significantly higher than pre-Covid levels. Both these data points are trending towards pre-Covid levels. Footfalls are getting better and basket values are reducing month over month," said Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited.
D-Mart - History
DMart was started by Mr. Radhakishan Damani and his family to address the growing needs of the Indian family.
From the launch of its first store in Powai in 2002, DMart today has a well-established presence in 163 locations across Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab and Rajasthan.
With its mission to be the lowest priced retailer in the regions it operates, its business continues to grow with new locations planned in more cities.
The supermarket chain of DMart stores is owned and operated by Avenue Supermarts Ltd. (ASL). The company has its headquarters in Mumbai.
DMart is a one-stop supermarket chain that aims to offer customers a wide range of basic home and personal products under one roof.
Each DMart store stocks home utility products - including food, toiletries, beauty products, garments, kitchenware, bed and bath linen, home appliances and more - available at competitive prices that our customers appreciate. Our core objective is to offer customers good products at great value.
Avenue Supermart Stock - Past 1 year
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