Avenue Supermarts Ltd.'s first-quarter revenue rose 31%, thanks partly to a low base. The operator of the DMart supermarket chain said late Friday that its revenue rose to 50.32 billion rupees ($675.6 million) for the quarter ended June 30 from INR38.33 billion a year earlier on a standalone basis. During the same quarter last year, the Covid-19 pandemic disrupted its operations and weighed on sales of nonessential, higher-margin products. Standalone revenue was INR57.81 billion for the quarter ended June 2019. Avenue Supermarts also said Friday that its board would review first-quarter earnings results on July 10.

Source: Wall Street Journal July 05, 2021 02:26 UTC