Is there an investment opportunity in PSP Projects shares?
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Shares of Radhakishan Damani owned Avenue Supermarts jumped over 2% to Rs 4,464.35 apiece in early trades after its retail chain DMart reported a standalone revenue jump of 46% to Rs 7,649.64 crore for the quarter ending September 2021 (Q2FY22).
The company had revenue from operations of Rs 5,218.15 crore in the July-September quarter a year ago, Avenue Supermarts informed the BSE in a regulatory filing. “Standalone revenue from operations for the quarter ended (QE) September 30, 2021, stood at Rs 7,649.64 crore,” said Avenue Supermarts in a regulatory filing.
DMart has seen a standalone revenue of Rs 5,032 crore in the June quarter, up 31% over last year period. Meanwhile, the profit after tax (PAT) during the same period came in at Rs 115 crore, a year-on-year growth of 132.3%.
Its total number of stores as of September 30, 2021, stood at 246. In the pre-pandemic July-September quarter of FY 2019-20, it had a revenue of Rs 5,949.01 crore.
DMart has recently forayed into Haryana with the opening of a modern store at BPTP Parklands, Faridabad. Built on a plot size of 1.57 acres, the store in Sector 75 comprises three floors — basement, ground, and first floor — with a total built-up area of approximately 94,000 sq. ft.