DMart results: Avenue Supermart’s second-quarter net profit jumped 29%

DMart Results: Avenue Supermart has announced its quarterly results for the recently ended September 2022 quarter. Due to lower expenses (both quarter-on-quarter and year-on-year), the company saw an almost 29% increase in net profit after tax. As of Q2FY23, the company’s net profit after tax amounts to 730.48 crore against 564.03 crore in Q2FY22.

The company has also managed to improve its profit after tax (PAT) as it declared a PAT of 790.35 crore in the recently ended September 2022 quarter against 753.34 crore in Q2FY22.

DMart’s total comprehensive income in Q2FY23 was 727.19 crore as it stood at 561.16 crores in Q2FY22. As of Q2FY23, the company’s total comprehensive income was reported at 678.77 crores. Thus, the Indian retail company that operates a chain of hypermarkets in India managed to improve its overall result.

The company reported improved spending on both a quarterly (QoQ) and yearly (YoY) basis. As of Q2FY23, Avenue Supermart reported total spend at 9,638.07 crore as it stood at 11,997.25 crores in Q2FY22. In Q1FY23, its total expenses amounted to 8,934 crores. Thus, the company managed to reduce its expenses on a quarterly and annual basis.

The retail company also reported an improvement in its total assets in the first six months of the current fiscal year. The company reported total assets of 17152.11 crore after the end of the quarter from July to September 2022 while its total assets stood at 15,403.96 crore at the end of FY22. Thus, in the first six months of the 2022-23 financial year, Avenue Supermart recorded an increase of around 11.35% in its total assets.

The total non-current assets of the company have been presented to 11,791.72 crore in Q2FY23 while its total current assets stand at 5360.39 crores after the end of the September 2022 quarter.

However, the company’s equity and liabilities also increased in the first six months of the current fiscal year. After the end of the September 2022 quarter, the company’s total equity and liabilities are 17,152.11 crore which stood at 15,403.96 crores after the end of the 2021-22 financial year.

Catch all the company news and updates on Live Mint. Download the Mint News app to get daily market updates and live trade news.

More less

Comments are closed.