Home Food Avenue Supermarts reports net profit of Rs 97 crore for Q4FY17

Avenue Supermarts reports net profit of Rs 97 crore for Q4FY17

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Avenue Supermarts Ltd. (ASL) has declared its financial results for the fourth quarter and full year ended March 31, 2017.

Avenue Supermarts reports net profit of Rs 97 crore for Q4FY17
Total revenue for FY17 stood at Rs 11,912 crore, as compared to Rs 8,595 crore during FY16

The company reported net profit of Rs 97 crore for Q4FY17, as compared to Rs 66 crore in the corresponding quarter of last fiscal.

Total revenue for the quarter ended March 31, 2017 stood at Rs 3,120 crore, as compared to Rs 2,220 crore in the same period last year. ASL’s Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q4FY17 stood at Rs 217 crore, up 41 per cent. The company’s EBITDA margin improved from 6.93 per cent in Q4FY16 to 6.95 per cent in Q4FY17.

For the full year period ended March 31, 2017, ASL’s net profit jumped by 51.6 per cent to Rs 483 crore, as compared to Rs 318 crore of the year ago period. The company’s PAT margin improved from 3.70 per cent in FY16 to 4.04 per cent in FY17.

Total revenue for FY17 stood at Rs 11,912 crore, as compared to Rs 8,595 crore during FY16. ASL’s EBITDA in FY17 stood at Rs 995 crore, up by 46.9 per cent, as compared to Rs 677 crore during FY16. The company’s EBITDA margin improved from 7.9 per cent in FY16 to 8.4 per cent in FY17.

For FY17, Basic EPS stood at Rs 8.56 as against Rs 5.66 in FY16.
Like for Like (LFL) growth has been 21.2 per cent in FY17 vis-à-vis 21.5 per cent in FY16.

Sales revenue per retail business sq.ft. area increase from Rs 28,136 per sq.ft. in FY16 to Rs 31,120 per sq. ft. in FY17.

Total Bill cuts were Rs 10.85 crore in FY17 as against Rs 8.47 crore in FY16, recording growth of 28.10 per cent.

Revenue mix for FY17

· Foods category constituted 53.65 per cent of the total revenue, as compared to 53.02 per cent of FY16

· Non-food (FMCG) constituted 19.98 per cent of the total revenue, as compared to 20.60 per cent of FY16

· General Merchandise & Apparel constituted 26.37 per cent of the total revenue, as compared to 26.38 per cent of FY16

With 131 stores, ASL continues to grow and expand its retail foot-print. ASL opened 14 stores in last 3 months.

follows Everyday low cost – Everyday low price (EDLC-EDLP) strategy which aims at using operational and distribution efficiency and thereby delivering value for money to customers by selling products at competitive prices.

Commenting on the financial performance of the company CEO and Managing Director, , said, “March’17 quarter and financial year 2016-17 annual results has been in line with our expectations. Delivering great value and being consistently relevant to consumers is our most important long term objective.”