Business

Opportunity Supermarts Profit More Than Doubles To Rs 418 Crore In September Quarter

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Opportunity Supartmart's earnings from operations stood at Rs 7,789 croreAvenue Suparmarts - owner and operator of retail chain DMart announced its July-September quarter results for the fiscal year 2021-22, reporting a net profit of Rs 418 crore on a consolidated basis - marking a development of 110 per cent, compared to Rs 199 crore in the matching month last year.The business's profit more than double din the second quarter of the existing fiscal, according to data in the regulative filing by Opportunity Suparmarts to the stock exchanges.Avenue Supartmart's earnings from operations in the September quarter stood at Rs 7,789 crore, compared to Rs 5,306 crore in the year-ago period, marking a growth of 46.79 percent year-on-year.

The business's profits before tax, devaluation, and amortization (EBITDA) stood at Rs 669 crore, compared to Rs 330 crore in the year-ago duration.

Covid-19 related lockdown limitations were eased further throughout this quarter.

Income in the DMart stores grew by 46.6 percent over the corresponding quarter of last year.

2 years and older DMart stores grew by 23.7 percent in the month of September 2021 as compared to September 2020.

We have 187 stores that are 2 years or older.

We have done a soft launch of DMart Ready in the cities of Surat and Vadodara, stated Mr.

Neville Noronha, CEO - & Handling Director, Avenue Supermarts Limited.On Thursday, October 14, shares of Avenue Supermarts settled 4.04 per cent greater at Rs 5,329.65 apiece on the BSE.

Avenue Supermarts opened on the BSE at Rs 5,187, swinging to an intra day high of Rs 5,420 and an intra day low of Rs 5,179.90, throughout the trading session.




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