D-Mart Q1 Profit Rises 11%; Older Metro Stores See Flat Sales

"In large metros, growth in older stores, which have significantly higher revenue per square foot, was flat this quarter. While stores in non-metros continue to grow well," Asawa said.

The flat metro performance contrasts with the growth in non-metro stores. D-Mart's older metro stores generate the highest revenue per square foot in the chain. Non-metro stores are still growing, though at lower absolute revenue density.

On the digital side, Avenue E-Commerce CEO Vikram Dasu said the company shut D-Mart Ready operations in seven cities during the quarter. Those cities were marginal contributors, he said. As of June 30, the online platform operates in 11 cities.

The company's total income, including other income, rose 14.9% to ₹18,820.3 crore.

Promoted by Radhakishan Damani and his family, D-Mart retails basic home and personal products across 11 states, with its strongest presence in Maharashtra and Gujarat.