Retail chain D-Mart operator Avenue Supermarts reported a 17.18% year-on-year increase in its standalone revenue to total Rs 13,247.33 crore in the third quarter of the 2024 financial year compared to Rs 11,304.58 in the third quarter of the 2023 financial year.
“Standalone Revenue from operations for the quarter ended (QE) December 31, 2023, stood at Rs 13,247.33 crore,” said Avenue Supermarts in a regulatory filing, the Press Trust of India reported.
D-Mart counts 341 brick-and-mortar stores across India as of September 2023 and also retails through its e-commerce store. The business more than doubled its store count from the 2018 financial year to the 2024 financial year as it continues to expand with an omni-channel strategy.
The business retails a multi-brand selection of personal care, cosmetics, home, and lifestyle goods and focuses on value retail. D-Mart operates in states including Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab, and Rajasthan.
D-Mart’s online business offers a hybrid model where shoppers can order products to local pick-up points. The business also delivers from local delivery centres.
The 2023 financial year saw D-Mart’s online sales cross the Rs 2,000 crore mark. However, the business also saw its losses increase as it focused on expansion into new locations.
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