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Avenue Supermarts, the corporate behind the retail chain DMart, launched its monetary outcomes for the second quarter of the 2023-24 fiscal yr on October 14. The corporate’s consolidated internet revenue for this era was Rs 623.35 crore, marking a 9.09 % lower from the Rs 685.71 crore recorded in the identical quarter final yr.
Compared to the earlier quarter, the corporate noticed a 5.36 % decline in its consolidated internet revenue, which dropped from Rs 658.71 crore to its present determine.
Taking a look at standalone internet revenue, there was a ten.91 % discount, with the corporate reporting Rs 658.54 crore for Q1FY24, versus the Rs 730.4 crore achieved within the corresponding quarter of the earlier yr.
Nonetheless, there was a notable constructive development within the firm’s income from operations. Avenue Supermarts reported a formidable 18.66 % year-on-year improve in consolidated income, with a complete of Rs 12,624.37 crore within the present interval in comparison with Rs 10.638.33 crore in the identical interval final yr. This income additionally noticed a 6.39 % rise from the earlier quarter, which stood at Rs 11,865.44 crore.
Within the second quarter of the fiscal yr 2023-24, Earnings earlier than Curiosity, Tax, Depreciation, and Amortization (EBITDA) amounted to Rs. 1,005 crore, displaying a rise from the Rs. 892 crore reported throughout the identical interval within the earlier yr. The EBITDA margin for Q2FY24 was 8.0 %, down from 8.4 % in Q2FY23.
Avenue Supermarts’ inventory worth on the Nationwide Inventory Trade closed at Rs 3,920 on October 13, marking a 1.48 % rise in comparison with the day prior to this.
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