Avenue Supermarts, the parent company of D-Mart retail chain, has reported a 20% increase in revenue to Rs 12,393.46 crore for the quarter ended March 31, 2022 (Q4). The company’s net profit rose by 25% to Rs 2,441.44 crore during the same period. The revenue growth was driven by a 15% increase in same-store sales (SSS) and 10% growth in store additions. The company added 43 new stores during the quarter, taking its total store count to 2,144.
D-Mart’s revenue growth was driven by strong sales growth in its food, non-food, and services segments. The company’s sales growth was also supported by its expansion into new markets and increasing penetration in existing markets. Avenue Supermarts’ operating margin expanded by 30 basis points to 7.2% due to cost optimization and improved operational efficiency.
The company’s cash and cash equivalents stood at Rs 14,345.46 crore as of March 31, 2022. Avenue Supermarts has declared a final dividend of Rs 24.50 per share for the financial year 2021-22. The company’s board has recommended a dividend payout of 50% of its standalone net profit for the financial year 2021-22.