Radhakishan Damani’s company Avenue Supermarts reported a consolidated net profit of 23.62 per cent at Rs 552.53 crore in the third quarter of the current financial year ended December 31, 2021. Avenue Supermarts operates the D-Mart retail chain.
Radhakishan Damani’s company Avenue Supermarts reported a consolidated net profit of 23.62 per cent at Rs 552.53 crore in the third quarter of the current financial year ended December 31, 2021.
Radhakishan Damani (Radhakishan Damani) The consolidated net profit of company Avenue Supermarts has increased by 23.62 per cent to Rs 552.53 crore in the third quarter of the current financial year ended December 31, 2021. Avenue Supermarts operates the D-Mart retail chain. Due to this, the company had earned a net profit of Rs 446.95 crore in the same quarter of the previous financial year. In a communication sent to the BSE, the company said its operating income grew 22.22 per cent to Rs 9,217.76 crore during the quarter as against Rs 7,542 crore in the corresponding quarter of the previous fiscal.
The company’s total expenses also increased by 21.72 per cent to Rs 8,493.55 crore during the quarter as against Rs 6,977.88 crore in the corresponding quarter of the previous fiscal.
Neville Noronha, Chief Executive Officer (CEO) and Managing Director of Avenue Supermarts said that revenue from D-Mart stores grew 22 per cent during the quarter. However, there has been some reduction in the gross margin.
Let us tell you that DMart has earned standalone revenue of Rs 9,065 crore in the quarter ending December 2021. This is an increase of 46 per cent from the revenue of Rs 5,218 crore in the same quarter last year.
DMart said in a filing that the company’s standalone revenue from operations for the quarter ending December 31, 2021, will now be subject to a limited review by the company’s auditors.
About Radhakishan Damani
The owner of D-Mart company is Radhakishan Damani, whose name is included in India’s richest businessmen. Damani is known as a Stock Market Investor, Stock Broker, Trader and Founder of D-Mart Company. Damani has registered his name in the list of richest people of India from a modest stockbroker. Radhakishan Damani was born in 1954 in a Marwari family of Mumbai. His father Shiv Kishan Damani also used to be a stock broker in his time. Radhakishan Damani has studied B.Com from Mumbai University. After studying for a year, he left college and started his own business.
how company started
Radhakishan Damani started his business with a ball-bearing business. After the death of his father Shiv Kishan Damani, he started working as a stock market broker. Damani’s business could not run yet, in the meantime, after the passing of his father, he started the work of stock market under compulsion. His elder brother was already working in the stock market, so he did not face much problem in this line. Radhakishan Damani felt that to do something big, a stock market broker would not work and for this he would have to become a stock market investor. At the age of 32, he made the first investment of his life in the stock market.