Indian retailer DMart posts 17.5% rise in Q1 profit
BENGALURU, July 13 (Reuters) -India's Avenue Supermarts AVEU.NS, the operator of the DMart retail store chain, posted a 17.5% rise in first-quarter net profit on Saturday.
It reported a consolidated net profit of 7.74 billion Indian rupees ($92.68 million) for the three months ended June 30 versus 6.59 billion a year earlier.
Its revenue grew 18.5% to 140.69 billion rupees.
DMart has more than 350 stores in India. Its supermarkets offer a wide range of items from food to footwear and home appliances.
It competes with Reliance Industries' RELI.NS retail unit, e-commerce companies such as Amazon AMZN.O and many mom-and-pop stores across India.
Reporting by Ashna Teresa Britto in Bengaluru; editing by Aditya Kalra and Jason Neely
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
