16.4 percent growth in D-Mart's profit, know how many crores profit

D-Mart made a profit of Rs 447 crore in the third quarter.

D-Mart offers its retail customers discounts on grocery items and everyday items on a daily basis. Its discount offer is not seasonal or regional, it is available to customers everyday.

new Delhi. The integrated net profit of Avenue Supermarts operating the retail chain D-Mart increased by 16.39 per cent to Rs 446.95 crore in the third quarter of the current fiscal year ended December 2020. In the same quarter of the previous financial year, the company made a net profit of Rs 384.01 crore. In a communication sent to BSE, Avenue Supermarts said that its operating income grew by 10.77 per cent to Rs 7,542 crore during the quarter from Rs 6,808.93 crore in the same quarter of the previous fiscal.

The company’s total expenses during the quarter increased by 10.32 per cent to Rs 6,977.88 crore, compared to Rs 6,325.03 crore in the same quarter of the previous financial year. On a single basis, the net profit of Avenue Supermarts rose by 19.27 per cent to Rs 470.25 crore during the quarter, from Rs 394.26 crore in the same quarter of the previous fiscal. On a standalone basis, the company’s revenue stood at Rs 7,432.69 crore during the quarter. Neville Noronha, Chief Executive Officer (CEO) and Managing Director of Avenue Supermarts, said the company’s business improved during the quarter due to the festive season sales.

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Daily Discount Offer Increases Customer Base Let us know that D-Mart offers discounts on grocery items and everyday items to its retail customers on a daily basis. Its discount offer is not seasonal or regional, it is available to customers daily. Due to which the trust of people has increased and the number of customers of the company has increased. However, the company is getting tough competition from many e-commerce companies like Geomart, Flipkart, Amazon. Despite this, its customer base has increased.Also Read: Union Budget 2021: Economists Advise To Accelerate Privatization, Emphasis On Infrastructure Also

D-Mart’s share also rose sharply In 12 out of the last 14 sessions, D-Mart stocks have seen a boom, which increased the wealth of investors by about Rs 37,000 crore. After the Government of India approved the Corona Virus Vaccine of Serum Institute and Bharat Biotech, investors bought D-Mart stocks fiercely. Investors are hopeful that with the introduction of these two vaccines, the situation will return to normal in the country, due to which the company will grow more rapidly.