After the company, the net profit of Avenue Supermarts (DMart) resulted in a 6.72% rise to Rs 589.68 crore on a 25.51% increase in revenue from operations to Rs 11,569.05 crore in the third quarter of FY23 over the third quarter of FY22. The company slipped at 4.23% to Rs 3698.90.

On a consolidated basis, the PAT margin stood at 5.1% in Q3FY23, lower than 6% in the October-December quarter of FY22. Profit before tax (PBT) stood at Rs 811.75 crore in the October-December quarter of  FY23, up 8.21% from Rs 750.17 crore in the corresponding quarter of last year.

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During the third quarter, EBITDA  grew 11.43% to Rs 965 crore compared with Rs 866 crore in the October-December quarter of FY22. EBITDA margin declined to 8.3% in the October-December quarter of FY23 against 9.4% in the October-December quarter of FY22.

D-Mart follows the Everyday Low Cost – Everyday Low Price (EDLC-EDLP) strategy, which plans to procure goods at competitive prices, produce them using operational and distribution efficiencies, and thereby provide customers with Value for money service. DMart opened four stores in the December quarter of FY23.