Avenue Supermarts stock under pressure post Q3 margin falls

18 Jan 2023 , 12:30 PM

Shares of Avenue Supermarts which runs D-Mart retail chain are trading with losses on Wednesday as well after the company’s results missed street expectations in the December quarter.

The company’s operating profit or EBITDA for the quarter increased 11.4 percent from last year to Rs 965.3 crore. The profit margin shrunk due to weak demand.

The company’s EBITDA margin also declined 100 basis points to 8.6 percent from 9.6 percent during the same period last year. Margin declined due to higher expenses, which rose 26 percent compared to the corresponding period last year.

On Wednesday, Avenue Supermarts was trading at Rs3687.65 per share lower by Rs0.40 or 0.01%. The stock hit intraday high and intraday low at Rs3715.95 per share and Rs3681 per share respectively on the BSE.

This week on Monday, the retain firm fell to a six-month low at Rs3,665.50 per share on the BSE.

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