Shares of Avenue Supermarts, the operator of D-Mart supermarkets, traded flat on March 13 after the company announced the opening of two new stores in Proddatur, YSR Kadapa in Andhra Pradesh, and Shirdi, Maharashtra, as per the company’s regulatory filing.

This announcement came just days after the supermarket chain opened new stores in Bengaluru, Karnataka and Chettipunniyam, Chennai.

With these additional stores, the total number of D-Mart stores in India has now reached 350.

The company’s total revenue for the quarter ended December 31, 2023, was Rs. 13,572 crore, compared to Rs. 11,569 crore in the same period last year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) in Q3FY24 stood at Rs. 1,120 crore, compared to Rs. 965 crore in the corresponding quarter of last year.

Profit after tax (PAT) for Q3FY24 was Rs. 690 crore, compared to Rs. 590 crore in the corresponding quarter of last year.

DMart is a one-stop supermarket chain that offers customers a wide range of basic home and personal products under one roof.

Each DMart store stocks home utility products, including food, toiletries, beauty products, garments, kitchenware, bed and bath linen, home appliances, and more, at competitive prices.

The company has a well-established presence in 347 locations across Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab and Rajasthan.

However, at 12:44 pm, the shares of Avenue Supermarts lost all their early gains and were trading 1.78% lower at Rs 3,960.05 on NSE.