Avenue Supermarts, the operator of the D-Mart hypermarket chain, saw a nearly 2% surge in early trade on January 15 following the parent company’s announcement of a 17% year-on-year increase in net profit for the third quarter of fiscal year 2024. The consolidated net profit for the October-December quarter stood at Rs 690.41 crore.
By 9:18 am, the stock was trading at Rs 3,905.25 on the National Stock Exchange, marking a 1.7% increase from the previous close. Avenue Supermarts reported a consolidated revenue of Rs 13,572.47 crore, reflecting a 17.31% YoY growth, with EBITDA reaching Rs 1,120 crore compared to Rs 965 crore in the same quarter of the previous year.
The company noted that sales in the non-FMCG segment were lower than expected, attributing the dip to temporary factors.
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