Mon Jan 13 09:23:19 UTC 2025: **DMart Reports Strong Q3 Earnings Despite Increased Discounting; CEO to Step Down**

**Mumbai, January 13, 2025** – Avenue Supermarts, the parent company of DMart, announced strong third-quarter (Q3 FY2025) results today, reporting a 4.8% rise in consolidated net profit to ₹723.54 crore, up from ₹690.41 crore a year ago. Revenue from operations jumped 17.68% to ₹15,972.55 crore. However, the profit margin dipped slightly from 5.1% in Q3 FY24 to 4.5% in Q3 FY25 due to increased discounting in the fast-moving consumer goods (FMCG) sector. Same-store revenue growth for stores operating for two years or more was 8.3%.

CEO and Managing Director Neville Noronha attributed the reduced margin to intensified competition and discounting, particularly impacting high-turnover stores in metro areas. He noted that the impact was less severe this quarter than in the previous one. Noronha also highlighted the strong growth of DMart Ready, the company’s online ordering service, which saw a 21.5% increase in the first nine months of FY2025. He emphasized the growing demand for home delivery over pick-up points, shaping the company’s strategic direction.

In a significant development, Avenue Supermarts announced a management reshuffle. Unilever’s Anshul Asawa has been appointed as the CEO Designate. Noronha, whose term ends in January 2026, will not be seeking renewal. As of December 31, 2024, Avenue Supermarts operated 387 stores. Despite the strong earnings, Avenue Supermarts’ stock price has fallen over 4% in the past year.

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