Avenue Supermarts, which owns and operates retail chain DMart reported a net profit for the July-September quarter of Rs 191 crore, registering a year-on-year increase of 65.2 percent.
This was led by 66 percent year-on-year decline in interest expenses and increase in other income to Rs 21.2 crore in quarter versus Rs 8 crore in the first quarter of 2018, the company said.
For the quarter under consideration, the standalone revenue stood at Rs 3,508 crore, compared with Rs 2,778 crore in the comparable quarter last year registering a 26.3 percent increase.
Avenue Supermarts listed on the stock exchanges with a blockbuster listing in March this year, making Radhakishan Damani — the founder of the company and a low-profile investor — a part of India’s richest 20 club.
At present, the company operates 132 stores in Maharashtra, Gujarat, Andhra Pradesh, Karnataka, Telangana, Tamil Nadu, Madhya Pradesh, Rajasthan, NCR and Chhattisgarh.