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Supermaket chain Avenue Supermarts Ltd. (ASL), which owns the brand D-Mart, has posted 17 per cent increase in its net profit at Rs 203 crore for fourth quarter ended March 2019. The company, which is one of the largest value food and grocery retailers in India, had posted a net profit of Rs 167 crore in the same period a year ago.
D-Mart’s total revenue for the January-March quarter stood at Rs 5,033 crore, 32 per cent jump from Rs 3,810 crore during the year-ago period.
D-Mart follows everyday low cost - everyday low price (EDLC-EDLP) strategy that 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.
Neville Noronha, CEO and Managing Director, Avenue Supermarts Limited, said “FY19 saw further improvements across key operating metrics. Store additions were below our expectations, we could have done better. Same store sales growth at 17.8% is encouraging. It further validates our strategy of value retailing – providing good quality products at great value.”
Total revenue for the full fiscal 2019 stood at Rs 19,916 crore, a 32 per cent growth compared to Rs. 15,009 crore for FY18. Net profit was at Rs 936 crore for FY19, as compared to Rs 785 crore in FY18. PAT margin declined marginally at 4.7 per cent in FY19 as compared to 5.2 per cent in FY18.
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