Avenue Supermarts Limited, which operates billionaire Radhakishan Damani’s retail company D-Mart, has made huge profits. Net profit for the fourth quarter ended March 2022 stood at Rs 426.75 crore, up 3.11 per cent. Its net profit stood at Rs 413.87 crore in the January-March quarter a year ago.
At the same time, revenue from operations grew 18.55 per cent to Rs 8,786.45 crore in the quarter from Rs 7,411.68 crore in the previous fiscal. On the other hand, the total expenditure increased by 18.71 per cent to Rs 8,210.13 crore from Rs 6,916.24 crore in the previous year. The company’s net profit grew 35.74 per cent to Rs 1,492.40 crore for the full financial year 2021-22 from Rs 1,099.43 crore in the year 2020-21.
Similarly, revenue from operations grew 28.3 per cent to Rs 30,976.27 crore in FY 2021-22 from Rs 24,143.06 crore a year ago.
Neville Noronha, Chief Executive Officer and Managing Director, Avenue Supermarts, said, “The quarterly performance and the experience gained over the past two years have instilled confidence in us about the business’s resilience and short-term revival.