Avenue Supermarts Q3 Updates: Standalone Revenue From Operations Surges 18%

Avenue Supermarts Ltd. reported on Thursday an 18% annual growth in its standalone revenue from operations to Rs 15,565.2 crore in the quarter ended December.

The operator of D-Mart supermarket chain had reported a standalone revenue of Rs 13,247.3 crore in the third quarter of financial year 2024. Revenue for the same period in fiscal 2023 stood at Rs 11,304.6 crore, while it was Rs 9,065 crore in the December quarter of fiscal 2022.

The company opened a total of 387 stores as of Dec. 31, according to an exchange filing.

Avenue Supermarts reported a 5.8% rise in net profit to Rs 659 crore in the second quarter of the current fiscal as compared to Rs 623 crore for the same period last year. The company recorded a 14% jump in its revenue to Rs 14,445 crore in the July-September quarter as against Rs 12,624 crore for the one year ago period.

It posted earnings before interest, tax, depreciation and amortisation of Rs 1,094 crore for the three months ended September as compared to Rs 1,005 crore for the same quarter of the last financial year. The margin narrowed to 7.6% for the second quarter as compared to 8% for the same period in the corresponding fiscal 2024.

Shares of Avenue Supermarts closed 1.41% higher at Rs 3,611.10 apiece on the National Stock Exchange, compared to a 1.88% advance in the benchmark Nifty. The share price has fallen 12% in the last 12 months.

Thirteen out of the 29 analysts tracking the company have a 'sell' rating on the stock, nine recommend 'hold' and seven maintain 'buy', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 21.8%.