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DMart Q2 update: Standalone revenue surges 46% to ₹7,650 cr – Mint

DMart, one of India’s largest retail chains in India, has reported a standalone revenue of 7,650 crore for the quarter ending September, 2021 (Q2FY22). This is a rise of 46% from 5,218 crore reported in the same quarter last year.

The standalone revenue from operations for the September quarter is subject to limited review by the statutory auditors of the company, DMart said in a filing.

The total number of stores as of September 30, 2021 stood at 246. On Friday, DMart’s scrip closed flat at 4,242 on NSE. The shares have gained over 50% so far since the start of 2021.

The stupendous rally in the stock has meant that, the investor-promoter of DMart, Radhakishan S Damani has broken into the elite club of the top 100 global billionaires recently.

Damani, who grew up in a single-room apartment in Mumbai, is now ranked 70th on the Bloomberg Billionaires Index with $22.5 billion as his net worth. The index is a daily ranking of the world’s richest people.

DMart has seen a standalone revenue of 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 115 crore, an year-on-year growth of 132.3%.

The company reported a renewed impact of coronavirus in the June quarter as the second wave forced many states to announce restrictions and shut down. However, with the gradual easing of curbs and ramping up of vaccination, the retail chain is seeing positive momentum in growth in the medium term.

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 acre, 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.

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