Mon Jan 13 03:59:11 UTC 2025: ## DMart Reports Strong Q3 Earnings, Announces CEO Succession

**Mumbai, India** – Avenue Supermarts Ltd., the parent company of the popular retail chain DMart, announced robust third-quarter (Q3FY25) earnings on Saturday, reporting a net profit of Rs 723.72 crore, a 4.79% increase compared to the same period last year. Revenue from operations surged 17.68% to Rs 15,972.55 crore, driven by strong same-store sales growth. EBITDA reached Rs 1,217 crore, reflecting a 7.6% EBITDA margin.

CEO and Managing Director Neville Noronha attributed the growth to increased demand, while acknowledging the ongoing impact of discounting in the FMCG sector, particularly in metro areas. He highlighted the significant growth of DMart Ready, the company’s e-commerce platform, which saw a 21.5% increase in revenue over the first nine months of the fiscal year. Noronha also announced that the company is shifting its focus towards home delivery services for DMart Ready, reflecting changing consumer preferences.

Looking ahead, Noronha announced he will not be seeking renewal of his contract when it expires in January 2026. The board has appointed Anshul Asawa, currently Country Head of Unilever in Thailand, as CEO Designate, effective March 15, 2025. Asawa, an IIT Roorkee and IIM Lucknow alumnus, will succeed Noronha on February 1, 2026, after a year-long transition period. Noronha’s tenure has seen DMart’s expansion from five to over 380 stores and annual turnover exceeding Rs 50,000 crore.

The company also announced several internal promotions within its senior management team, including new appointments for Head-Pharma Business, Head-Centre of Excellence, and Head-Loss Prevention. The robust Q3 results and planned leadership transition underscore DMart’s continued growth and strategic vision for the future.

Read More