Avenue Supermarts’ shares fall over 4% despite stellar Q4 earnings

The company on Saturday reported 41.60 per cent rise in consolidated net profit at Rs 271.28 crore for the fourth quarter ended March 31, 2020.

Avenue Supermarts’ shares fall over 4% despite stellar Q4 earnings

New Delhi: Shares of Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, on Tuesday fell despite a stellar Q4 earning.

On BSE, the company’s scrip at 9.48am fell Rs 112.55 or 4.68 percent to 2290.00 apiece while on NSE the scrip dropped Rs 118.25 or 4.93 percent to 2,280.05 apiece.

The company on Saturday reported 41.60 per cent rise in consolidated net profit at Rs 271.28 crore for the fourth quarter ended March 31, 2020.

The company had a net profit of Rs 191.57 crore in January-March a year ago, Avenue Supermarts said in a BSE filing.

Avenue Supermarts' revenue for April was down by more than 45 per cent as compared to April 2019.

Revenue from operations was up 23.59 per cent to Rs 6,255.93 crore during the quarter under review as against Rs 5,061.65 crore in the year-ago period.

Total expenses were at Rs 5,957.53 crore as against Rs 4,767.21 crore, up 24.96 per cent.

The company's overall revenue grew 23 per cent during the latest quarter. However, during March, it grew just 11 per cent over the year-ago month due to lockdown, Avenue Supermarts said in a post earnings statement.

The company has opened 38 new stores during 2019-20.