Avenue Supermarts Q3 Review - Strong Store Addition To Support Revenue Growth: ICICI Direct
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ICICI Direct Report
Avenue Supermarts Ltd. Q3 FY22 results were a mixed bag as margins were tad below estimates. The company reported 22% YoY revenue growth to Rs 9217.8 crore (two year compound annual growth rate: 16%).
Gross margins declined marginally to 15.4% on account of unfavorable product mix. However, owing to positive operating leverage, Ebitda margins improved 30 basis points YoY to 9.4%.
D-Mart's profit after tax for the quarter grew 24% YoY to Rs 552.0 crore (two-year CAGR: 20%). Store addition trajectory accelerated materially in Q3 FY22 as it added 17 new stores taking total store count to 263 spread across 10.3 million square feet.
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