Avenue Supermarts Declared Financial Results For Quarter Ended June 30, 2018
Avenue Supermarts Limited (ASL), one of the largest food & grocery retailers in India, declared its financial results for the quarter ended June 30, 2018.
Total Revenue for the quarter ended June 30, 2018 stood at Rs. 4,559 crore, as compared to Rs. 3,598 crore in the same period last year. ASL’s Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q1 FY19 stood at Rs. 423 crore, as compare to Rs. 303 crore in the corresponding quarter of last year. The company’s EBITDA margin improved from 8.4% in Q1 FY18 to 9.3% in Q1 FY19.
The Company reported Net Profit of Rs. 251 crore for Q1 FY19, as compared to Rs. 175 crore in the corresponding quarter of last year. The company’s PAT margin improved from 4.8% in Q1 FY18 to 5.5% in Q1 FY19.
Basic Earnings per share (EPS) for Q1 FY19 stood at Rs. 4.02, as compared with Rs. 2.80 for Q1 FY18.
D-Mart follows Everyday low cost - Everyday low price (EDLC-EDLP) strategy which aims at procuring goods at competitive price, using operational and distribution efficiency and thereby delivering value for money to customers by selling at competitive prices.
Commenting on the financial performance of the company Mr Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited, said, “This quarter has seen slightly lower gross margins which is a result of our conscious effort to maintain or bring down prices for consumers across categories. Improved Profit after Tax (PAT) for the quarter is due to better operational performance and lower impact of interest cost as compared to last year June quarter. Q1 PAT tends to be better than full-year results and hence must not be seen as a reflection of the entire year trend.”