Stock Market

Avenue Supermarts Q2 profit surges 48% YoY to Rs 323 crore; misses Street estimates

   Download Android App    Share in      FullScreen   CheckVideos

Avenue Supermarts, owner of DMart supermarket chain, on Saturday posted a 47.54 per cent year-on-year rise in net profit at Rs 322.66 crore for the quarter ended September 2019.

Analysts in an ET Now poll estimated the profit figure at Rs 343 crore. The firm had posted a net profit of Rs 218.69 crore in the corresponding quarter last year. Commenting on the financial performance of the company Neville Noronha, CEO - Managing Director, Avenue Supermarts, said, “Revenue growth for the quarter was slightly lower than our estimates while gross margin saw improvement over the corresponding period last year due to better revenue mix.

PAT margin improvement is in line with revenue growth and also aided by revision in corporate tax rates”. Consolidated total income of the company increased 22.26 per cent YoY to Rs 5,998.90 crore during the quarter under review against Rs 4,906.54 crore in the same period last year. Earnings per share (EPS) jumped to Rs 5.34 in Q2FY20 from Rs 3.62 in Q2FY19.

Share price of the company on Friday closed 1.23 per cent up at Rs 1843.25. Avenue Supermarts added 5 stores in September quarter.




Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021

Buy Our Merchandise (Peace Series)

 

Contribute US to Start Broadcasting


It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.

Debit/Credit/UPI

UPI/Debit/Credit

Paytm

STRIPE

Details
Category: Stock Market


21