[ad_1]
one in Business Update, dmart It said earlier this week that its standalone revenue grew nearly two-fold to Rs 9,806.89 crore in the June quarter from Rs 5,031.75 crore in the year-ago quarter. Analysts Were already expecting a manifold increase in the profit of the retailer on a low basis.
The Ebitda margin for the quarter stood at 10.3 per cent, as against 4.4 per cent in the year-ago quarter. Standalone PAT margin stood at 6.9 per cent in Q1FY23, as against 2.3 per cent in Q1FY22.
CEO and Managing Director Neville Noronha said his company ended the quarter with growth in all key financial parameters. He said that there has been a very good recovery in the overall sales.
“However, the performance of this quarter is not comparable to the same period last year due to the second wave of COVID-19 during that time. We opened 110 stores cumulatively in the last 3 financial years, which could never have been operated under normal conditions. Didn’t get the opportunity to do so in the last 2 years, he said.
These are the stores that are bigger, better designed and have the capacity to handle the massive revenue of the company. These stores have performed extremely well in the quarter.
“This is also the first full quarter of zero disruption from the COVID-19 pandemic. Like Q3, Q1 is a period of good revenue as well as profit maximization on account of the school, college season and the onset of monsoon,” the company said. he said.
The company said that its general merchandise and apparel categories saw relatively better traction compared to the previous quarter, but the impact of disruptions and sharp inflationary impacts led by Covid-19 is still somewhat higher. Our discretionary contribution mix has not yet reached pre-pandemic levels this quarter, but it is improving.
Overall, the consolidated net profit grew manifold to Rs 643 crore as against Rs 95 crore on a year-on-year basis. Consolidated revenue grew two-fold to Rs 10,038 crore as compared to Rs 5,183 crore in the same period last year.
On DMart Ready, the company said that it will continue to further deepen its presence across 12 cities in India. “We’re doing the same thing and
Continue to focus on the big cities. Small cities are pilots and we are constantly learning from the feedback we get from our customers in these cities.
[ad_2]
Source link
