On Monday, the shares of this national supermarket chain gained up to 2.6 percent after the company’s net revenue and net profit increased by around 17 percent.
With a market capitalization of Rs 2.51 lakh crore, the shares of Avenue Supermarts Ltd were trading at Rs 3,863.60 per share, increasing around 0.61 as compared to the previous closing price of Rs 3,840.10 apiece.
Looking into the company’s Performance, Avenue Supermarts Ltd’s revenue increased by 7 percent on a quarter-on-quarter basis from Rs.12,624 crores in Q2FY24 to Rs.13,572 crores in Q3 FY24. Further, revenue increased by 17 percent year on year from Rs. 11,569 crores in Q3FY23 to Rs.13,572 crores in Q3FY24.
Avenue Supermarts Ltd’s net profit increased by 10 percent on a quarter-on-quarter basis from Rs. 623 crores in Q2FY24 to Rs. 690 crores in Q3FY24. Further, net profit increased by 17 percent year on year from Rs. 590 crores in Q3FY23 to Rs.690 crores in Q3FY24.
In FY 2022-23, the firm successfully established 40 new shops. Avenue Supermarts has more than increased its shop count to 324 since fiscal year 2017-18, despite the pandemic’s onset in 2020.
Avenue Supermarts Ltd. reported return ratios in the recent financial year with a return on equity (ROE) of 16.0 percent and a return on capital employed (ROCE) of 20.1 percent.
Avenue Supermarts Ltd’s latest ownership pattern shows that the promoter’s control 74.64 percent, retail shareholders own 9.41 percent, and foreign institutional investors own 7.67 percent.
Avenue Supermarts Limited (DMart) is a nationwide supermarket company that focuses on value-retailing. The product categories include Foods, Non-Foods (FMCG), and General Merchandise & Apparel.
Written by:- Abhishek Singh
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