DMart Reports 4.79% Rise in Q3 Net Profit; Announces Leadership Transition

Avenue Supermarts, the Radhakishan Damani-backed operator of DMart, reported a 4.79% increase in consolidated net profit for Q3 FY25, reaching ₹723.72 crore compared to ₹690.61 crore in the same period last year. Revenue from operations rose 17.68% year-on-year to ₹15,972.55 crore. Total expenses increased by 18.52% to ₹15,001.64 crore.

The company's EBITDA for the quarter grew 8.7% to ₹1,217.3 crore, with a margin of 7.6%, down from 8.3% in Q3 FY24. Basic EPS rose to ₹11.12 from ₹10.62. CEO Neville Noronha noted improved performance in metro stores despite increased discounting in the FMCG category and highlighted 21.5% growth in DMart Ready's e-commerce business over nine months.

Noronha announced he will step down as MD and CEO after his term ends in January 2026. Unilever’s Anshul Asawa will join as CEO Designate in March 2025, transitioning to MD and CEO by February 2026.

As of December 31, 2024, DMart operated 387 stores across 16.1 million sq ft and opened 10 new stores in Q3. Shares closed 3.34% lower at ₹3,685.70 on January 10, with a market capitalization of ₹2.39 lakh crore.