Overview

• EBITDA rose 11% to about ₹1,214 crore, but the EBITDA margin slipped roughly 30 bps to 7.3%.
• Total expenses climbed to about ₹15,751 crore, led by higher purchases of stock-in-trade and increased employee costs.
• The retailer added eight stores in the quarter, taking the network to 432 locations as it accelerates brick-and-mortar growth.
• The company scaled back DMart Ready in five smaller cities—Amritsar, Belagavi, Bhilai, Chandigarh and Ghaziabad—while adding 10 fulfilment centres to deepen metro coverage.
• Same-store sales grew 6.8% year-on-year but eased by around 30 bps from the prior quarter, and broker views diverged with UBS positive and HSBC, Goldman Sachs and JPMorgan more cautious.