On July 17, Avenue Supermarts shares tumbled 1% in early trade after the company stated a 140 bps fall in their EBITDA margins for the April to June quarter.

EBITDA margins fell 140 bps to 8.9% in the April to June quarter, as associated with last year’s quarter.
Avenue Supermarts, which functions the DMart, broadcasted results for Q1FY24 on July 15. The company’s net profit was up 2.3% YoY at Rs 695 crore in Q1FY24. The business’s standalone revenue from operations augmented 18.1% YoY to Rs 11,584 crore in the same period.

Standalone Earnings Before Income Tax Depreciation and Amortisation (EBITDA) grew 2.8% YoY at Rs 1036 crore in Q1FY24. Avenue Supermarts missed analyst guesses for net profit by 8% for the April to June quarter. A mean agreement of four brokerage firms foretold Avenue Supermarts’ net profit to Rs 715 crore.

The shares traded 0.8% down at Rs 3,808 at 9.27 am on the NSE. Avenue Supermarts’ shares have lost almost 6% since January 1.

The retail chain firm has opened three stores during the quarter and now has 327 stores in total as of June 30.