D-Mart
Avenue Supermarkets Ltd, which operates retail store chain D-Mart, reported a 4.8 per cent rise in consolidated net profit to Rs 723.54 crore in the third quarter of the current financial year. The net profit of the company in the same quarter of the last financial year was Rs 690.41 crore. In the information given to the stock market on Saturday, the company said that its operating income increased by 17.68 percent to Rs 15,972.55 crore in the quarter under review, which was Rs 13,572.47 crore in the same quarter of the last financial year. “Net profit margin in the third quarter stood at 4.5 percent, compared to 5.1 percent in the same quarter of the last financial year,” the company said.
The company’s total expenses increased by 18.52 percent to Rs 15,001.64 crore in the October-December 2024 quarter. Avenue Supermarts’ total income (including other income) increased by 17.57 per cent to Rs 15,996.69 crore in the period under review.
CEO Neville Noronha steps down after 20 years
Avenue Supermarkets, which owns and operates retail chain D-Mart, has announced a top-level management reshuffle, appointing Unilever’s Anshul Asawa as its CEO. Asawa currently serves as Unilever’s Country Head in Thailand and General Manager of the Home Care Business Unit in Greater Asia. According to a statement from Avenue Supermarkets, current managing director and CEO Neville Noronha, whose current tenure expires in January 2026 – which is a year from now – will not present his candidature for renewal of his post. “The Board of Directors respects his decision and expresses our deep gratitude for his extraordinary contributions to the Company. The Board has appointed Anshul Asawa as CEO Designate, effective March 15, 2025,” the Board of Directors said.
one of the larger supermarket chains
Noronha was associated with D-Mart for the last two decades. He joined DMart in January 2004 and has led the company from its early years – from 5 stores to today one of the largest supermarket chains with over 380 stores. Asawa, an alumnus of IIT Roorkee and IIM Lucknow, will join DMart after a 30-year-long tenure at Unilever, where he held leadership roles overseeing the development of product categories in India, Asia and Europe. During his tenure of over 15 years in India, Asawa held key leadership positions in sales, marketing and distribution.
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