Avenue Supermarts jumps 3% on strong Q2 earnings
ETMarkets.com|
Updated: Oct 16, 2017, 10.14 AM IST
NEW DELHI: Shares of Avenue Supermarts, which runs the D-Mart supermarkets chain, climbed over 3 per cent in Monday's trade after the company on Saturday said its September quarter profit surged 65.18 per cent to Rs 191.02 crore.
The company had reported a net profit of Rs 115.64 crore in the corresponding quarter a year ago.
Following the announcement, the stock advanced 3.22 per cent to hit a high of Rs 1,274 on BSE.
The company said its total income for the quarter stood at Rs 3,529.47 crore, up 26.65 per cent over Rs 2,786.77 crore in the year-ago period.
Avenue Supermarts which was listed on March 21 this year made Radhakishan Damani, the founder of the company and a low-profile investor, a part of India's richest 20 club. The stock is up 326 per cent over its issue price of Rs 299, data showed.
At present, the company operates 136 stores in Gujarat, Karnataka, Maharashtra, NCR, Punjab, Telangana, Andhra Pradesh, Tamil Nadu, Madhya Pradesh, Rajasthan and Chhattisgarh.
The company had reported a net profit of Rs 115.64 crore in the corresponding quarter a year ago.
Following the announcement, the stock advanced 3.22 per cent to hit a high of Rs 1,274 on BSE.
The company said its total income for the quarter stood at Rs 3,529.47 crore, up 26.65 per cent over Rs 2,786.77 crore in the year-ago period.
Avenue Supermarts which was listed on March 21 this year made Radhakishan Damani, the founder of the company and a low-profile investor, a part of India's richest 20 club. The stock is up 326 per cent over its issue price of Rs 299, data showed.
At present, the company operates 136 stores in Gujarat, Karnataka, Maharashtra, NCR, Punjab, Telangana, Andhra Pradesh, Tamil Nadu, Madhya Pradesh, Rajasthan and Chhattisgarh.
