...
Hindustantimes wants to start sending you push notifications. Click allow to subscribe
Next Story

DMart operator Avenue Supermarts shares rise over 10% after revenue surges 17.5%

Jan 03, 2025 03:37 PM IST

However, international brokerages Macquarie and Morgan Stanley maintained a bearish views on the stock

Avenue Supermarts Ltd, which is the operator of DMart, saw its shares going up well over 10% in the morning's trading session on Friday, January 3, 2025 after it reported a 17.5% surge in revenue.

Macquarie's main concern for DMart was competition from quick commerce.(dmartindia.com)

Also Read: What is new ‘jumped deposit’ scam targeting UPI users? Here's how to protect yourself

The company's standalone revenue from operations for the third quarter of the financial year 2024-25 was 15,565.23 crore, which was higher by 17.5%, compared to 13,247 crore in the same period of the previous year.

At 1 pm IST, the company's shares were up by 406.75 points or 11.24%, trading at 4,024.50.

In sharp contrast, the benchmark BSE Sensex was down by a huge 434.70 points or 0.54% at the same time, reaching 79,509.01.

The broader NSE Nifty also fell by 94.95 or 0.39%, reaching 24,093.70.

Also Read: Top 10 income tax changes from 2024 to look out for while filing ITR in 2025

Its same store sales growth (SSSG) was also around 5.5%, compared to the 4% estimate.

Macquarie's main concern was competition from quick commerce.

Also Read: Air India to see major expansion, increase global coverage: Airline chief

In the second quarter of 2024-25, the retail major's net profit rose 5.8% year-over-year, reaching 659.6 crore, compared to 623.6 crore in the same period last year.

For the quarter, Avenue Supermarts revenue rose by 14.4 percent YoY to 14,444.5 crore, up from 12,624.4 crore year-on-year.

Stay updated with the latest Business News on Petrol Price, Gold Rate, Income Tax Calculator along with Silver Rates, Diesel Prices on Hindustan Times.
See more
SHARE THIS ARTICLE ON
Start 14 Days Free Trial Subscribe Now