Avenue Supermarts hits new high on strong Q1 results

The stock hit a new high of Rs 1,664, up 4.5% on the BSE in intra-day trade, surpassed its previous high of Rs 1,622 recorded on June 13, 2018.

Shares of Avenue Supermarts, which owns and operates D-Mart supermarket chain, hit a new high of Rs 1,664, up 4.5% on the BSE in intra-day trade, after the company reported a better-than-expected 43% year on year (yoy) growth in net profit at Rs 2.51 billion in June quarter (Q1FY19).  It had a profit of Rs 1.75 billion in year-ago quarter.

Total revenue during the quarter under review increased 26.7% at Rs 45.59 billion as compared to 35.98 billion in the same period last year.

Analysts on an average had expected a profit of Rs 2.32 billion on revenue