Avenue Supermarts December revenue surge
Shares of Avenue Supermarts – the operator of Dmart retail chain – gained more than 2% to Rs 4,799 apiece on NSE after reporting strong revenue growth.
The D-Mart standalone revenue rose 22% to Rs 9,065 crore in the December quarter.
The company’s revenue stood at Rs 7,432.69 crore during October-December quarter of 2020, while it was at Rs 6,751.94 in the same quarter of 2019.
The total number of stores as of December 31, 2021 stood at 263.
Avenue Supermarts had reported a standalone net profit of Rs 449 crore for July-September 2021, while its total revenue stood at Rs 7,650 crore during the quarter.
Promoters held 74.99% stake in the company as of 30-Sep-2021, while FIIs held 9.95% and domestic institutional investors had 6.21%.
Recently, Avenue Supermarts has bought retail space in Bengaluru for Rs 88.25 crore.
The space, spread across 67,404 sq ft, includes the basement, ground, first and second floors and the terrace in a shopping complex, with 135 car parks, in central Bengaluru.
DMart has focused on enhancing its (real estate) footprint during the past 9 to 12 months due to the availability of better deals in the market.
Earlier this year, Avenue Supermarts acquired a commercial building for Rs 71.5 crore in suburban Mumbai’s Goregaon West. The Mumbai-headquartered company acquired seven properties worth Rs 400 crore during the covid-19 pandemic.
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