INSUBCONTINENT EXCLUSIVE:
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.