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Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, on Saturday reported an increase of 16.39 per cent in its consolidated net profit at Rs 446.95 crore for the third quarter ended December 2020. The company had posted a net profit of Rs 384.01 crore in the October-December quarter a year ago, Avenue Supermarts said in a BSE filing. Its revenue from operations was up 10.77 per cent at Rs 7,542 crore during the quarter under review as against Rs 6,808.93 crore in the corresponding quarter last fiscal. Avenue Supermarts total expenses were at Rs 6,977.88 crore as against Rs 6,325.03 crore, up 10.32 per cent. While on the standalone basis, Avenue Supermarts net profit was up 19.27 per cent at Rs 470.25 crore as against Rs 394.26 crore of the Q3/FY 2019-20.
Avenue Supermarts Ltd, which owns and operates the supermarket chain D-Mart, on Saturday said its overall sales and sales mix are now trending very close to usual times, though the consumption changes post COVID-19 still persists. Lesser trips and higher basket values continue to be the norm and products such as apparel, laundry, footwear, travel and such relevant out of home usage categories are taking more time to recover, it said. While, the company, which is expanding its online shopping channel D-Mart Ready after COVID-19 environment, has done soft-launches in select pin codes of Ahmedabad, Bengaluru and Hyderabad. It has leased some part of the space of its brick and mortar stores to Avenue E-Commerce Limited (AEL) to commence e-commerce operations in those cities, said the company in a post earning statement.