Avenue Supermarts, which is backed by Radhakishan Daman, has reported standalone revenue from operations of Rs 7,303.13cr for the quarter ending March 2021, up from Rs 6,193.53cr in the same period last year.
D-Mart stores are owned and operated by Avenue Supermarts. D-Mart is a national supermarket chain that provides customers with a wide variety of home and personal products under one roof.
The total number of stores as of March 31, 2021, was 234. Avenue Supermarts opened 22 new stores and converted two others into fulfilment centres for Avenue E-commerce during the fiscal year 2020-21.
Shares of Avenue Supermarts were seen trading at Rs 2,863, up 0.52%. It touched an intra-day high of Rs 2,879 during the trade.
Avenue Supermarts' consolidated net profit increased 16.4% to Rs 446.95 crore in Q3 December 2020 over Q3 December 2019 on a 10.8% increase in net sales to Rs 7,542 crore.
Impact of Coronavirus (Covid-19)
Growth in 2 years and older stores was 6% in January-February 2021, compared to the same period last year. When comparing the first 15 days of March 2021 to the first 15 days of March 2020, these stores experienced a 9.4% decrease. This is primarily due to full or partial lockdowns implemented across cities beginning in March 2021 in response to an increase in Covid-19 cases.
Because of an increase in Covid-19 cases since March 2021, several restrictions have been imposed in the cities and towns where we operate. Every day, the number of cities and stricter enforcement grows.