D-Mart Q1 FY-2027: Profit surges 31% QoQ to ₹860 Cr as margins recover

Avenue Supermarts delivered a strong Q1 FY-2027 rebound on a consolidated basis, with net profit surging 31% sequentially to ₹860.44 Cr from Q4 FY-2026's ₹656.42 Cr, though year-over-year growth moderated to 11% versus Q1 FY-2026's ₹772.81 Cr. Revenue reached ₹18,794.53 Cr (+6.3% QoQ, +14.9% YoY), reflecting steady retail momentum. The critical story is margin recovery: operating margin jumped 113 basis points to 7.98% from Q4's 6.85%, and net profit margin gained 85 bps to 4.56% from 3.71%, driven by operational leverage and cost discipline post the March quarter. YoY net profit margin compressed 16 bps (from 4.72%), a natural consequence of profit growth trailing revenue growth at the higher base. No exceptional items distorted the quarter. The loss of ₹91.27 Cr at subsidiary Avenue E-Commerce (e-commerce channel) is consolidated into the group result. Standalone net profit was ₹935.77 Cr (+29% QoQ, +12.8% YoY), showing consistent momentum across both reporting structures. The company has positioned itself operationally for sustained profitability into Q2.