DMart shares decline over 9% after earnings fail to cheer investors
Oct 14, 2024, 11:23 IST
Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, declined over 9% in the morning trade on the bourses on Monday after the company's September quarter earnings failed to cheer investors. The stock of the Mumbai-headquartered firm plunged 9.46% to ₹4,139.95 apiece on the National Stock Exchange (NSE).
On the BSE, it depreciated by 9.37% to ₹4,143.60 per piece.
The company's market capitalisation (mcap) fell by ₹27,900.18 crore to ₹2,69,637.75 crore on the BSE.
Meanwhile, the 30-share BSE Sensex jumped 443.71 points or 0.55% to 81,825.07 in early trade, while the NSE Nifty increased 131.85 points or 0.53% to 25,096.10.
In a regulatory filing on Saturday, Avenue Supermarts reported a 5.78% increase in its consolidated net profit at ₹659.44 crore for the second quarter ended September 2024.
The company had posted a net profit of ₹623.35 crore a year ago, the company said.
Its revenue from operations rose 14.41% to ₹14,444.50 crore during the quarter under review. It was ₹12,624.37 crore in the corresponding quarter of the last fiscal.
Avenue Supermarts' total expenses in the September quarter increased 14.94% to ₹13,574.83 crore.
The total income, which includes other income, surged 14.34% to ₹14,478.02 crore, it added.
Promoted by Radhakishan Damani and his family, DMart retails basic home and personal products across markets, including Maharashtra, Gujarat, Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Madhya Pradesh, Rajasthan, Punjab, NCR, Chhattisgarh and Daman.
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On the BSE, it depreciated by 9.37% to ₹4,143.60 per piece.
The company's market capitalisation (mcap) fell by ₹27,900.18 crore to ₹2,69,637.75 crore on the BSE.
Meanwhile, the 30-share BSE Sensex jumped 443.71 points or 0.55% to 81,825.07 in early trade, while the NSE Nifty increased 131.85 points or 0.53% to 25,096.10.
In a regulatory filing on Saturday, Avenue Supermarts reported a 5.78% increase in its consolidated net profit at ₹659.44 crore for the second quarter ended September 2024.
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Its revenue from operations rose 14.41% to ₹14,444.50 crore during the quarter under review. It was ₹12,624.37 crore in the corresponding quarter of the last fiscal.
Avenue Supermarts' total expenses in the September quarter increased 14.94% to ₹13,574.83 crore.
The total income, which includes other income, surged 14.34% to ₹14,478.02 crore, it added.
Promoted by Radhakishan Damani and his family, DMart retails basic home and personal products across markets, including Maharashtra, Gujarat, Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Madhya Pradesh, Rajasthan, Punjab, NCR, Chhattisgarh and Daman.
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