Overview

• Consolidated revenue rose 15.5% year on year to Rs 16,676.3 crore, net profit increased 4% to Rs 685.0 crore, and EBITDA grew 11% to about Rs 1,214 crore with an operating margin of roughly 7.3%.
• Total expenses climbed to Rs 15,751.1 crore, led by higher purchases of stock-in-trade and increased employee costs, pressuring both operating and net margins.
• Like-for-like sales growth reached 6.8% versus a year earlier but slipped 30 basis points from the June quarter, signaling mixed momentum in consumer demand.
• The retailer added eight stores to reach 432 locations, opened about 10 fulfilment centres, and exited DMart Ready in five smaller cities to concentrate online operations in metros, reducing its e-commerce footprint to 19 cities from 24.
• CEO-Designate Anshul Asawa took charge of brick-and-mortar operations as Neville Noronha prepares to step down in January 2026, while brokerages issued mixed calls with targets spanning roughly Rs 3,370 (Goldman Sachs) to Rs 5,600 (UBS).