Avenue Supermarts, which runs the DMart hypermarket chain, reported a 22.5 per cent rise in consolidated net profit in Q4 of FY24, on revenue that rose a fifth driven by mostly food, while, general merchandise and apparel saw a marginal uptick. The retailer reported net profit of ₹563.3 crore on revenue of ₹12,726.6 crore. For the full year, net profit rose 6.6 per cent to ₹2,536 crore and revenue was up 18.6 per cent at ₹42,840 crore. The share of FMCG, general merchandise and apparel were flat, with downward bias, discretionary spends still continuing to be a drag on retailers. FMCG items contributed 20.68 per cent to revenue and 22.37 per cent came from general merchandise and apparel.

Source: The Hindu May 05, 2024 09:58 UTC