Retail
DMart adds 15 stores as Q2 profit trails 18% revenue rise
Revenue hits ₹19,644 crore but margins narrow on wage costs, leaving value shoppers and rivals watching the till harder.
Meera Iyer, Retail correspondent··4 min read
DMart’s July-September revenue climbed 17.8% to ₹19,644 crore and profit reached ₹743 crore, up 8.5%. Net margin slipped to 3.8% from 4.1% a year earlier as Ebitda margin eased to 7.1%. Fifteen new stores took the total to 518.
Shop-floor wages and entry-level inflation lifted operating costs even as the retailer stuck to everyday low prices. A till operator in an older Mumbai store now rings higher volumes but thinner contribution after the wage bump, squeezing the P&L on high-traffic days.
Two years and older DMart stores grew by 9.5% during Q2 FY27 as compared to 6.8% in Q2 FY26.
The slower profit growth puts pressure on peers chasing the same value basket, from Vishal Mega Mart to Reliance Trends, while helping private-label suppliers who feed DMart’s mix. Kiranas in catchment areas lose more footfall when new DMarts open nearby.
Watch the festive window through Diwali for same-store traction and any update on full-year store additions in the next filing. Margin recovery talk will dominate the next analyst call.