The retail chain of stores “DMart” owned by Radhakrishna Damani and which operates under Avenue Supermarket posted its financial statistics for the December quarter.
A cursory glance at the statistics reveals the fact that the company is witnessing a slow growth rate on a sequential basis for its December quarter. The figures of the company mentioned the fact that Dmart saw an increase in revenue which is increasing at a rate of 25% on a YoY (Year on Year) ratio. The company recorded revenue around ₹11,305 crore for the September- December quarter.
On comparing the YoY growth ratio the December quarter has witnessed the lowest ratio. This is the lower recorded ratio since the March quarter of FY 22.
Apart from this DMart witnessed a rise in the total number of stores from 302 in the previous quarter to 306 in the current quarter. The company stated that its stores have witnessed a steep rise in the sale of various discretionary items which are not included in the FMCG sector. However these sales still haven’t matched the pre pandemic levels.
The overall stock performance can be considered to be average. In Q3 the stock of Avenue supermarket fell by 7%. This ratio can be considered dismal if we look at the fact that NIFTY50 grew at a rate of 6% in Q3.
