Commenting on the performance of the company Mr. Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited, said: “DMart (Brick and Mortar) Business Overview We ended FY 2023 with growth across our key financial parameters of Revenue, EBITDA and PAT. Revenue growth of FMCG and staples continues to outperform General Merchandise and Apparel. Lower consumer spending in General Merchandise and Apparel continues and has impacted the margin mix downwards.
Two years and older DMart stores grew by 24.2% during FY 2023 as compared to FY 2022. These same stores grew at 11.0% in the second half of FY 2023 vis-a-vis second half of FY 2022. We have 234 stores that are 2 years or older. We continued to expand our store footprint and opened 40 new stores during the year taking our cumulative total to 324 stores.
DMart Ready Our E-Commerce business continued its expansion in our existing 22 cities. We cumulatively expanded our operations in 10 new cities during FY 2023.
Pharmacy Shop-in-shop We have commenced operations of our pharmacy shop-in-shop through one of our subsidiaries (Reflect Healthcare and Retail Private Limited) during the quarter through the launch of our first outlet in the Mumbai Metropolitan Region.”
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