Home Food Avenue Supermarts reports 73 pc rise in Q4 net profit

Avenue Supermarts reports 73 pc rise in Q4 net profit

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. (ASL), one of the largest food & grocery retailers in India, has declared its financial results for the quarter and year ended March 31, 2018.

Avenue Supermarts reports 73 pc rise in Q4 net profit
The company reported net profit of Rs 167 crore for Q4FY18, as compared to Rs 97 crore in the corresponding quarter of last year

Total Revenue for the quarter ended March 31, 2018 stood at Rs 3,810 crore, as compared to Rs 3,111 crore in the same period last year. ASL’s Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q4FY18 stood at Rs 294 crore, as compare to Rs 208 crore in the corresponding quarter of last year. The company’s EBITDA margin improved from 6.7 percent in Q4FY17 to 7.7 percent in Q4FY18.

The company reported net profit of Rs 167 crore for Q4FY18, as compared to Rs 97 crore in the corresponding quarter of last year. The company’s PAT margin improved from 3.1 percent in Q4FY17 to 4.4 percent in Q4FY18.

Basic Earnings per share (EPS) for Q4FY18 stood at Rs 2.68, as compared with Rs 1.69 for Q4FY17.

Total Revenue for FY 18 stood at Rs 15,009 crore, as compared to Rs 11,881 crorefor FY 17. ASL’s EBITDA in FY18 stood at Rs 1,337 crore, as compared to Rs 964 crore during FY17. The company’s EBITDA margin improved from 8.1 percent FY17 to 8.9 percent in FY18.

For FY 18 ASL’s net profit grew by 62.6 percent to Rs 785 crore, as compared to Rs 483 for last year. The company’s PAT margin improved from 4.1 percent in FY17 to 5.2 percent in FY18.

For FY 18, Basic EPS stood at Rs 12.57 as against Rs 8.56 in FY17.

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 , CEO & Managing Director, Avenue Supermarts Limited, said, “Deflation in staples, tax rates not being comparable, store addition not in line with expectation and base effect of demonetization has made March 2018 revenue a little tepid. Grooming talent and store addition shall continue to remain two main challenges as well as focus areas for the company.”