Ebitda margin also slipped 240 basis points to 6.2%. On a monthly basis, sales figures have improved in the second quarter.
DMart on Saturday announced the results for the second quarter of the current financial year. Consolidated profit of the company decreased by 38.39% to Rs 199 crore on an annual basis. Whereas the company had a profit of Rs 323 crore in the second quarter of last year.
Revenue decreased in the second quarter
Consolidated Total Revenue also declined by 11.43% to Rs 5,306 crore in the September quarter from Rs 5,991 crore in the year-ago period. The company’s Ebitda has fallen to Rs 330 crore. Whereas in the same period last year it was 517 crores. Apart from this, the Ebitda margin also slipped 240 basis points to 6.2% from 8.6% last year. It contains Eita’s flower form (Earnings Before Interest, Taxes, Depreciation, and Amortization – EBITDA).
Standalone profit in September
Profit on a standalone basis decreased by 36.9% to Rs 211 crore. While total revenue from standalone also decreased by 12.3% to Rs 5,218 crore as compared to last year. According to the company, demand for FMCG and staples has strengthened in September.
Company business improvement
The company’s CEO and MD Neville Noronha said the company’s business was improving, which would also surpass pre-covid levels in the coming days. He added that sales figures improved in the second quarter on a monthly basis. Sales figures in September are better than August and August’s figures are better than July. So we are confident that the sales figures will soon cross the pre-Covid level.
The company said the impact of the corona epidemic has been reflected in the first quarter and second-quarter data. But financial performance is expected to be better in the third quarter due to the festive season.