Share soars 5% in weak market post Q2 business update
Owner of DMart retail chain, Avenue Supermarts Ltd, reported an 18.5% rise in its standalone revenue from operations
Avenue Supermarts Ltd, which owns and operates retail chain DMart, on Wednesday reported an 18.51 per cent increase in its standalone revenue from operations to ₹12,307.72 crore against ₹10,384.66 crore in a year ago period.
The company shares closed 1.31% higher at ₹3722.50 per share on BSE on Tuesday.
Avenue Supermats had registered a revenue from operations of ₹7,649.64 crore in the July-September quarter in FY22, Avenue Supermarts informed BSE in a regulatory filing.
“Standalone Revenue from operations for the quarter ended September 30, 2023, stood at ₹12,307.72 crore,” said Avenue Supermarts in the regulatory filing while sharing the company’s update at the end of the quarter.
Shares of Avenue Supermarts, the parent body of DMart stores, rallied 5 per cent to Rs 3,899 on the BSE in Wednesday’s intraday trade, in an otherwise weak market, after the company reported an 18.51 per cent year on year (YoY) increase in its standalone revenue from operations at Rs 12,308 crore in the September quarter (Q2-FY24).