<p>Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, on Saturday reported an increase of 52.56 per cent in its consolidated net profit to Rs 413.87 crore for the fourth quarter ended March 2021.</p>.<p>The company had posted a net profit of Rs 271.28 crore in the January-March quarter a year ago, Avenue Supermarts said in a BSE filing.</p>.<p>Its revenue from operations during January-March 2021 was up 18.47 per cent to Rs 7,411.68 crore, against Rs 6,255.93 crore in the year-ago period.</p>.<p>Avenue Supermarts' total expenses were at Rs 6,916.24 crore, up 16.09 per cent as against Rs 5,957.53 crore a year ago.</p>.<p>On a standalone basis, Avenue Supermarts’ net profit was up 51.62 per cent to Rs 434.95 crore, against Rs 286.87 crore of the corresponding quarter of the last fiscal.</p>.<p>Its revenue from operations on a standalone basis during the quarter was at Rs 7,303.13 crore, up 17.92 per cent in comparison to Rs 6,193.53 crore a year ago.</p>.<p>However, for the financial year 2020-21, Avenue Supermarts' net profit was down 15.5 per cent at Rs 1,099.43 crore. It was Rs 1,300.98 crore in the previous year.</p>.<p>Its revenue from operations in the fiscal was down 2.92 per cent to Rs 24,143.06 crore. It was Rs 24,870.20 crore in 2019-20.</p>.<p>Avenue Supermarts CEO & Managing Director Neville Noronha said the financial year 2020-21 has been a challenging year for D-Mart business as the year began amid a strict lockdown post the emergence of Covid-19.</p>.<p>The economy gradually opened after May 2020 and the second half of the year was progressing towards recovery.</p>.<p>"During 2020-21, we have seen a degrowth across our key financial parameters of revenue, Ebitda (earnings before interest, tax, depreciation and amortisation) and PAT (profit after tax)," he said.</p>.<p>The sales mix has also seen a shift towards grocery and FMCG (fast-moving consumer goods) products.</p>.<p>"Sales from general merchandise and apparel formed 22.90 per cent of our total revenue for the year as compared to 27.31 per cent in the previous year," Noronha said.</p>.<p>This is a result of consumer preference of need-based essential goods shopping for a significant period during the year, reduced discretionary spending and significant restrictions on selling non-essentials during the early part of the year.</p>.<p>"This has also impacted our margins during the year. However, fourth-quarter margins did indicate a revival of discretionary spends not seen in previous three quarters," he added.</p>.<p>Over the addition of new stores, Noronha said its construction activity was impacted during the first half of the year.</p>.<p>"We gradually commenced our store construction activity from the second half of the year and opened 22 new stores during the year," he said.</p>.<p>As of March 31, 2021, Avenue Supermarts was operating 234 operating stores with a total retail business area of 8.82 mn sq ft.</p>
<p>Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, on Saturday reported an increase of 52.56 per cent in its consolidated net profit to Rs 413.87 crore for the fourth quarter ended March 2021.</p>.<p>The company had posted a net profit of Rs 271.28 crore in the January-March quarter a year ago, Avenue Supermarts said in a BSE filing.</p>.<p>Its revenue from operations during January-March 2021 was up 18.47 per cent to Rs 7,411.68 crore, against Rs 6,255.93 crore in the year-ago period.</p>.<p>Avenue Supermarts' total expenses were at Rs 6,916.24 crore, up 16.09 per cent as against Rs 5,957.53 crore a year ago.</p>.<p>On a standalone basis, Avenue Supermarts’ net profit was up 51.62 per cent to Rs 434.95 crore, against Rs 286.87 crore of the corresponding quarter of the last fiscal.</p>.<p>Its revenue from operations on a standalone basis during the quarter was at Rs 7,303.13 crore, up 17.92 per cent in comparison to Rs 6,193.53 crore a year ago.</p>.<p>However, for the financial year 2020-21, Avenue Supermarts' net profit was down 15.5 per cent at Rs 1,099.43 crore. It was Rs 1,300.98 crore in the previous year.</p>.<p>Its revenue from operations in the fiscal was down 2.92 per cent to Rs 24,143.06 crore. It was Rs 24,870.20 crore in 2019-20.</p>.<p>Avenue Supermarts CEO & Managing Director Neville Noronha said the financial year 2020-21 has been a challenging year for D-Mart business as the year began amid a strict lockdown post the emergence of Covid-19.</p>.<p>The economy gradually opened after May 2020 and the second half of the year was progressing towards recovery.</p>.<p>"During 2020-21, we have seen a degrowth across our key financial parameters of revenue, Ebitda (earnings before interest, tax, depreciation and amortisation) and PAT (profit after tax)," he said.</p>.<p>The sales mix has also seen a shift towards grocery and FMCG (fast-moving consumer goods) products.</p>.<p>"Sales from general merchandise and apparel formed 22.90 per cent of our total revenue for the year as compared to 27.31 per cent in the previous year," Noronha said.</p>.<p>This is a result of consumer preference of need-based essential goods shopping for a significant period during the year, reduced discretionary spending and significant restrictions on selling non-essentials during the early part of the year.</p>.<p>"This has also impacted our margins during the year. However, fourth-quarter margins did indicate a revival of discretionary spends not seen in previous three quarters," he added.</p>.<p>Over the addition of new stores, Noronha said its construction activity was impacted during the first half of the year.</p>.<p>"We gradually commenced our store construction activity from the second half of the year and opened 22 new stores during the year," he said.</p>.<p>As of March 31, 2021, Avenue Supermarts was operating 234 operating stores with a total retail business area of 8.82 mn sq ft.</p>