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Avenue Supermarts Q2 net profit rises 18% YoY to Rs 226 crore

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NEW DELHI: Radhakishan Damani-led Avenue Supermarts on Saturday posted 18.16 per cent year-on-year rise in net profit at Rs 225.74 crore for the quarter ended September 2018.

It had posted a net profit of Rs 191.04 crore in the corresponding quarter last year.

Revenue from operations jumped 38.94 per cent YoY to Rs 4,872.52 crore for the quarter under review against Rs 3,506.92 crore in the same period last year. Shares of the company closed 6.16 per cent up at Rs 1410.75 on Friday on BSE, while the BSE Sensex advanced 2.15 per cent at 34,733.58. Basic earnings per share for Q2FY19 stood at Rs 3.62 against Rs 3.06 for Q2FY18.

For the quarter ended September 2018, the company’s EBITDA came at Rs 390 crore, witnessed a growth of 22.60 per cent on year-on-year basis. EBITDA margin stood at 8 per cent in Q2FY19 as compared to 9.1 per cent in Q2FY18. “During the quarter we continued to bring prices down for our customers across categories.

Our revenue growth in Q2 is a reflection of these price cuts,” said Neville Noronha, CEO MD, Avenue Supermarts.




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