D-Mart Q1 Results: D-Mart released its first quarter results, profit increased to ₹ 642.89 crore

New Delhi. Avenue Supermarts Ltd, which runs a retail store chain named D-Mart, on Saturday announced its financial results for the first quarter of the current financial year (2022-23). The company’s consolidated net profit jumped more than six times to Rs 642.89 crore for the quarter ended June 30, 2022.

Net profit of Rs 95.36 crore was made in April-June quarter last year
Giving this information on Friday, the company said that there was a ‘very good improvement’ in overall sales and a strong growth in net profit in comparison. Avenue Supermarts said in the information sent to the stock exchanges that the company had earned a net profit of Rs 95.36 crore in the April-June quarter a year ago.

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Revenue from operations grew by 93.66% to Rs 10,038.07 crore
The revenue from its operations grew by 93.66 per cent to Rs 10,038.07 crore during the reporting quarter as against Rs 5,183.12 crore in the corresponding quarter of the previous financial year. D-Mart has added 10 stores in the April-June quarter of FY 2022-23.

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The company’s CEO and Managing Director Navil Noronha has said that in the first quarter, the company performed well on all financial parameters. During this period, there has been a tremendous recovery in the total sales of the company. He further said that it also needs to be kept in mind that it will not be right to compare the performance of this quarter with the first quarter of the previous financial year. Because last year during this period the country was going through the second wave of Corona. We have opened more than 110 stores during the last three financial years. Those who have never got a chance to work in normal conditions in the last 2 years due to the Kovid epidemic.

(with moneycontrol input)

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