‘Inflation impacting some categories’
Avenue Supermarts, which owns and operates retail chain D-Mart, on Saturday reported a 23.6% rise in consolidated net profit to ₹552.53 crore for the third quarter ended December 31.
The company had posted a net profit of ₹447 crore in the same quarter a year earlier, Avenue Supermarts said in a BSE filing.
Revenue from operations increased 22.2% to ₹9,217.8 crore during the quarter under review against ₹7,542 crore in the corresponding quarter last fiscal.
The total expenses also increased 21.7% to ₹8,493.6 crore in Q3 FY 2021-22, compared with ₹6,978 crore in the year-earlier quarter.
Avenue Supermarts CEO and MD Neville Noronha said: “Revenue grew by 22% in this quarter over the corresponding quarter of last year. Inflation and lesser opportunities to go out are negatively impacting certain categories more than others,” he said.
On the outlook, Mr. Noronha said that considering the current COVID wave, D-Mart’s sales and footfalls would be dependent on local regulations.
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