MUMBAI : When the going gets tough, the tough get going. That probably sums up what food and grocery retailer Avenue Supermarts Ltd’s financial year 2021 (FY21) has been like.
Avenue runs the DMart chain of retail stores.The company’s first half of FY21 was terribly hit by the impact of the covid-19 pandemic with standalone revenues declining by around 34% year-on-year in the June quarter.
Revenue drop was curtailed to 12% in the September quarter. Subsequent quarters saw further improvement. In fact, revenues increased in the December quarter by 10% year-on-year.