Avenue Supermarts Limited, the company of Big Bull i.e. Rakesh Jhunjhunwala's guru Radhakishan Damani, has declared the figures for the quarter of the financial year 2024-25. Between September 2024 and December 2024, his company's sales have increased by 17.5 percent.
According to the data released by Avenue Supermarts Limited, their company has done a total business of Rs 15,565.23 crore in the third quarter, which is more than the business of Rs 13,247.33 crore in the third quarter of the financial year 2023-24.
Avenue Supermarts Limited, the owner and operating company of retail chain DMart, reported a 17.5 percent increase in standalone operating revenue to Rs 15,565.23 crore for the third quarter ended December 31, 2024. Avenue Supermarts told BSE in a regulatory filing on Thursday that the company had earned revenue of Rs 13,247.33 crore in the December quarter, a year ago. Its total number of stores till December 2024 was 387.
The company said the revenue for the quarter under review is subject to a limited review by the company's statutory auditors. The company's standalone revenue in October-December, 2022-23 was Rs 11,304.58 crore. Promoted by Radhakishan Damani and his family, DMart retails basic household and personal products in Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab and Rajasthan.
Rakesh Jhunjhunwala, also known as Big Bull, had called Radhakishan Damani his guru on many occasions. Born in 1954 in a Marwari family of Mumbai, Radhakishan Damani's father Shiv Kishan Damani used to be a stock broker. Radhakishan Damani took admission in Mumbai University to study B.Com, but after studying for one year, he left the college and started his own business.
Ramesh Damani started the business with ball-bearings in the initial days, but closed this business due to losses. Meanwhile, his father died and later he tried to start something new. Therefore, he started trading in the stock market with Rs 5,000. His younger brother was already in this business. Therefore it was easy to understand. In the initial phase, he started investing in small companies.
