Shares of Avenue Supermarts were trading lower by 1.64% at Rs 1,813 after the company declared Q2 result on Saturday, 12 October 2019.
Meanwhile, the S&P BSE Sensex was up 108 points or 0.28% to 38,235.06.
On the BSE, 3,572 shares were traded in the counter so far compared with average daily volumes of 37,162 shares in the past two weeks. The stock hit a high of Rs 1858 and a low of Rs 1803.55 so far during the day.
The stock hit a 52-week high of Rs 1,944 on 23 September 2019. The stock hit a 52-week low of Rs 1,126.95 on 23 October 2018.
On a consolidated basis, Avenue Supermarts' net profit rose 47.49% to Rs 323 crore on 22.44% increase in total revenue to Rs 5,991 crore in Q2 September 2019 over Q2 September 2018.
Consolidated EBITDA rose 33.25% to Rs 517 crore during the period under review. EBITDA margin improved to 8.6% in Q2 September 2019 from 7.9% in Q2 September 2018.
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Neville Noronha, CEO & managing director, Avenue Supermarts, said that revenue growth for the quarter was slightly lower than the company's 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.
Avenue Supermarts, owns and operates D-Mart stores. D-Mart is an emerging national supermarket chain that offers customers a range of home and personal products under one roof. The company offers a wide range of products with a focus on Foods, Non-Foods (FMCG) and General Merchandise & Apparel product categories.
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