Shares of Avenue Supermarts traded lackluster after a 22% year-on-year (YoY) jump in its March quarter net profit failed to impress Dalal Street investors.
DMart shares: Avenue Supermarts stock price declined by nearly 4% following the release of its Q3FY24 business update, which fell below analysts estimates.
Shares of the D’Mart hypermarket operator have given flat returns year-to-date. Despite this, many analysts have held a positive view of the stock and Prabhudas Lilladher is one among them.
Avenue Supermarts reported a consolidated net profit of Rs 623.35 crore in Q2 FY24, down 9.09 percent Year-on-Year (YoY). The company’s revenue was up 18.66 percent YoY at Rs 12,624.37 crore in the same period
Avenue Supermarts stock rose 3.98 per cent to an intraday high of Rs 4601.9 against the previous close of Rs 4425.65 on BSE. Avenue Supermarts shares have been gaining for the last three sessions.