Avenue Supermarts Q1 Update: Revenue Rises 18%
Standalone revenue for the company during the April-June quarter increased to Rs 11,584.4 crore over the previous year.
Avenue Supermarts Ltd. reported an 18% increase in revenue in the first quarter of fiscal 2024.
Standalone revenue for the operator of DMart retail chain during the April-June period increased to Rs 11,584.4 crore over the year earlier, according to the company’s quarterly business update released on the bourses.
Compared with the previous quarter, the Radhakishan Damani-led company's revenue grew 12.07%.
The retailer also posted its highest first-quarter revenue so far.
The corresponding period in FY22 and FY21 were disrupted because of Covid-led restrictions and hence, are not comparable. Revenue doubled over Q1 of FY20.
The company added just three stores during the quarter under review. The total number of stores run by the company stood at 327, as on June 30.
Shares of Avenue Supermarts closed 0.63% lower at Rs 3,865.35 apiece, as compared with a 0.75% rise in the benchmark Sensex, which closed at 65,205.05.
