Avenue Supermarts : Q2FY18 Result
Nidhi Jani / 14 Oct 2017
The company reported PAT of Rs. 191 crore, which represents a sequential QoQ increase of 9.3 per cent and a YoY increase of 65.2 per cent.
Avenue Supermarts reported its results for the quarter ended September 30, 2017 on Saturday.
The company’s total sales for Q2FY18 came in at Rs. 3508.3 crore. This represents a 2.5 per cent sequential decline and 26.3 per cent YoY increase.
Its operating profit (EBIT) for the quarter amounted to Rs. 282.8 crore and the EBIT margin stood at 8 per cent.
The company reported PAT of Rs. 191 crore, which represents a sequential QoQ increase of 9.3 per cent and a YoY increase of 65.2 per cent.
For the half year period ended September 30, 2017, company’s net profit grew by 56.3 per cent to Rs. 366 crore, as compared to Rs. 234 crore of the year ago period. The company’s PAT margin improved from 4.3 per cent in H1FY17 to 5.1 per cent in H1FY18.
Commenting on the financial performance of the company Mr. Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited, said, “Results have been in line with expectations. GST transition has been smooth and has settled across Avenue Supermarts and our partner network’s commercial and IT systems.”
Avenue Supermarts is one of the largest food and grocery retailers in India, which owns and operates D-Mart stores. D-Mart is an emerging national supermarket chain that offers customers a range of home and personal products under one roof.
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