Avenue Supermarts falls 4% post Q4 results

The stock dipped 4% to Rs 1,433 on the BSE in intra-day trade

Avenue Supermarts , which operates the chain of D-Mart stores, has dipped 4% to Rs 1,433 on the BSE on profit booking despite the company reported a 72.9% year-on-year (y-o-y) growth in its net profit to Rs 1.67 billion in the fourth quarter of FY18. Total Revenue during the period was up 22.4% y-o-y to Rs 38.10 billion.

Analysts on an average had expected profit of Rs 1.86 billion on revenue of Rs 37.77 billion for the quarter.

The company’s EBITDA (earnings before interest, tax, depreciation and amortization) margin improved 100 bps from 6.7% in Q4FY17 to 7.7%