BENGALURU (Reuters) – India’s Avenue Supermarts, the operator of the DMart retail store chain, posted a 17.5% rise in first-quarter net profit on Saturday.
It reported a consolidated net profit of 7.74 billion Indian rupees ($92.68 million) for the three months ended June 30 versus 6.59 billion a year earlier.
Its revenue grew 18.5% to 140.69 billion rupees.
DMart has more than 350 stores in India. Its supermarkets offer a wide range of items from food to footwear and home appliances.
It competes with Reliance Industries’ retail unit, e-commerce companies such as Amazon and many mom-and-pop stores across India.
(Reporting by Ashna Teresa Britto in Bengaluru; editing by Aditya Kalra and Jason Neely)
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