Avenue Supermarts, which owns D-Mart chain of hypermarkets, reported 53.3 percent year-over-year increase in net profit to Rs 394 crore from Rs 257 crore in the corresponding quarter FY19. The company has opened 20 stores during the first 9 months of this fiscal. D-Mart competes with Reliance Retail, Big Bazaar, EasyDay in the offline space even as competition from online players including BigBasket, Grofers along with Amazon Pantry and Flipkart Supermart have increased in the past few years. Given this massive potential, the company expects its online market to continue chugging along at 50 percent growth rate for the next few years. D-Mart’s expansion in offline space is an added business opportunity for the signage companies engaging in-store branding and display projects.
