Avenue Supermarts, which owns and operates retail chain D-Mart, on Saturday reported a twofold increase in its consolidated net profit at Rs 417.76 crore for the second quarter ended September 2021.

The company had posted a net profit of Rs 198.53 crore a year ago.

Revenue from operations was up 46.79 per cent to Rs 7,788.94 crore against Rs 5,306.20 crore in the corresponding quarter of the last fiscal.

Total expenses were at Rs 7,248.74 crore, up 43.63 per cent in the second quarter of 2021-22 against Rs 5,046.69 crore of the year-ago quarter.

“Total revenue for H1FY22 stood at Rs 12,972 crore compared with Rs 9,189 crore in the same period last year,” the company said.

On a standalone basis, Avenue Supermarts’ revenue from operations during the quarter was at Rs 7,649.64 crore, up 46.6 per cent, in comparison to Rs 5,218.15 crore in the second quarter of 2020-21.

Avenue Supermarts CEO and managing director Neville Noronha said, “Covid-19-related restrictions were eased further during this quarter. Two years and older D-Mart stores grew 23.7 per cent in September 2021 compared with a year ago.”