Avenue Supermarts shares in the early trade on January 16, fell by 4 per cent after the company reported its results for the quarter ending in December. The shares hit a six month low of Rs 3,645 apiece on the NSE. The share price opened lower in early morning trading, but it hit an intraday low within minutes of the opening bell.
The owner and operator of the DMart chain's consolidated profit post-tax was at Rs 590 crore up by 6.6 per cent in comparison to the Rs 553 crore it reported for the same period a year ago. The analysts had expected the net profit of Rs 646.5 crore.
Revenue and EBITDA
The total revenue of the company for the quarter ending in December was at Rs 11,569 crore, compared to Rs 9,218 crore last year, indicating a 25.5 per cent year-on-year growth. The company reported a 11.4 per cent growth in earnings before interest, tax, depreciation, and amortisation (EBITDA) during the same quarter at Rs 965 crore, as against Rs 866 crore in the corresponding quarter last year.
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