Avenue Supermarkets, which is traded on the bourses under the name of ‘DMart’ is among the top three gainers since opening bell. It opened with a gain of over 5% at Rs.1430 and went to hit an intraday high at Rs.1447, going up 7%. Its 52-week high stands at Rs.1696.15.
The market is very happy with the company’s earnings for Q1FY20 despite fall in operating margins. Its consolidated total revenue rose 27% (YoY) at Rs.5815 crore. Its consolidated net profit rose 32% at Rs.323 crore.
EBITDA was up 41% at Rs.597 crore but margins fell from 9.74% to 10.81%.
Finance cost saw a 81% jump and depreciation rose 90%.
As at 30th June 2019, the company had 184 stores across Maharashtra, Gujarat, Daman, Andhra Pradesh, Karnataka, Telangana, Tamil Nadu, Madhya Pradesh, Rajasthan, NCR, Chhattisgarh and Punjab.