Mon Jan 13 05:13:50 UTC 2025: ## DMart Reports Solid Q3 Earnings Despite Increased Discounting; CEO to Step Down
**Mumbai, India** – Avenue Supermarts, the parent company of the popular retail chain DMart, announced a 4.9% increase in consolidated net profit to ₹723.54 crore for the December 2024 quarter, compared to ₹690 crore in the same period last year. Revenue saw a robust 17.6% growth, reaching ₹15,973 crore from ₹13,572 crore. However, the company’s EBITDA margin slipped to 7.6% from 8.3% year-on-year, and PAT margin decreased from 5.5% to 5%. Increased discounting in the FMCG sector impacted profitability, although the effect was less severe than in the previous quarter.
DMart’s same-store sales growth for stores operating for two years or more reached 8.3%. The company’s online ordering service, DMart Ready, showed a 21.5% growth over the first nine months of FY2025, with home deliveries now surpassing pick-up point sales. As of December 31, 2024, DMart operated 387 stores.
In a significant development, CEO and Managing Director Neville Noronha announced his decision not to renew his contract, which expires in January 2026. He will be succeeded by Anshul Asawa, a veteran from Unilever with extensive experience in leadership roles across India, Asia, and Europe.
The news follows the India’s Largest Regional Retail Option Traders Summit (BOTS), organized by Traders Gurukul, highlighting ongoing activity in the Indian financial markets. Further details regarding the crypto market’s top gainers and losers were not provided in this release.
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