On Saturday, D-Mart reported an increase of 64.13 per cent in its consolidated net profit at Rs 685.71 crore in the second quarter of FY23. During the second quarter, revenue from operations rose 36.58 per cent to Rs 10,638.33 crore compared with Rs 7,788.94 crore in the same quarter the previous year.

The total expenses stood at Rs 9,925.95 crore, up 36.93 per cent in the second quarter of FY23 compared with Rs 7,248.74 crore in the same quarter of the previous year. In the previous (Apr-Jun) quarter of this year, the company posted a net profit of Rs 95.36 crore. Revenue from operations hit a high of 93.66 per cent to Rs 10,038.07 crore 

in Q1FY23 compared with Rs 5,183.12 crore in Q1FY22. The total expenses were at Rs 9,191.79 crore, up 81.03 per cent in the first quarter of FY23, compared with Rs 5,077.22 crore in the same quarter of the previous year.

Commenting on the results, Avenue Supermarts CEO & Managing Director Neville Noronha said, “There has been a very good recovery of overall sales. However, this quarter’s performance is not comparable to last year’s period due to the second wave of Covid-19 during that time.”

While talking about the growth of DMart in the brick-and-mortar segment in April-June, Noronha said: “We cumulatively opened 110 stores over the last three financial years, which never got an opportunity to operate in normal circumstances over the last two years. These are larger, better-designed stores and can handle a larger revenue scale. These stores have done extremely well in this quarter.” Total ten stores in the first quarter of 2022-23.