On Monday, the shares of Avenue Supermarts fell by over 7%, and at the time of filing, the shares were trading at Rs 4,219.65.
The fall in share prices came after the Avenue Supermarts, which operates DMart stores, reported an 8% year-on-year rise in standalone net profit for the September quarter at Rs 710.37 crore, up from Rs 658.54 crore a year earlier. Revenue from operations increased by 14% to Rs 14,050.32 crore, compared to Rs 12,307.72 crore in the same period last year.
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However, profit after tax dropped by over 12% from Rs 812.45 crore reported in the previous April-June quarter. Revenue for the quarter saw a sequential rise from Rs 13,711.87 crore in Q1FY25. On a consolidated basis, net profit stood at Rs 659 crore, up 5.6% year-on-year, while consolidated revenue reached Rs 14,444 crore, a 14% increase from Rs 12,624 crore in Q2FY24.
Commenting on the performance of the company Mr. Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited, said: “Overall H1 FY 2025 like-for-like revenue growth was 7.4% for 2 years and older stores. The Q2 FY 2025 likefor-like revenue growth for the same cohort of stores was at 5.5%. We clearly see impact of online grocery formats including DMart Ready in large metro DMart stores which operate at a very high turnover per square feet of revenue. DMart Ready business grew by 21.8% in H1 FY 2025.”
The 52 week high and low of the share is Rs 5,484.85 and Rs 3,620 respectively. According to the BSE analytics, the shares have given returns of just 7.98 per cent in the last 1 year.
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