Avenue Supermarts Q1 net profit zooms 490.32% at Rs 679.64 cr
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The company reported standalone net profit of Rs 679.64 crore for the quarter ended June 30, 2022 as compared to Rs 115.13 crore in the same period last year, registering a year-on-year growth of 490.32 per cent. Net revenue of the company rose substantially by 94.90 per cent at Rs 9,806.89 crore in April-June quarter of this fiscal as against Rs 5,031.75 crore in the corresponding period last year. During April-June quarter, operating expenses increased by 82.91 per cent to Rs 8,799.00 crore from Rs 4,810.53 crore in year ago period. Other Income grew by 1.93 per cent at Rs 36.91 crore versus (Jun'21 Rs 36.21 crore).
Operating Profit surged by 355.61 per cent to Rs 1,007.89 crore as against Rs 221.22 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 133.64 per cent in June quarter. Interest grew by 38.64 per cent y-o-y to Rs 11.66 crore, while Taxation increased by 459.18 per cent at Rs 230.16 crore (Jun'21 Rs 41.16 crore).
