DMart Share Price Falls Ahead Of Q1 Results
Net profit for the quarter is forecasted to grow by 14% to Rs 883 crore.
Shares of DMart operator Avenue Supermarts Ltd. fell 0.82% ahead of the company's first-quarter results on Friday.
DMart's revenue for the June quarter is projected to increase by 17.8% year-on-year, reaching Rs 16,583 crore, according to Bloomberg estimates. The company's Ebitda is expected to rise by 11% to Rs 1,354 crore, although margins are anticipated to narrow to 8.2%. Net profit for the quarter is forecasted to grow by 14% to Rs 883 crore.
In the previous quarter, Avenue Supermarts saw a 2% decline in profit, falling short of consensus estimates. However, the company reported a 16.9% increase in revenue for the March quarter, amounting to Rs 14,872 crore, compared to Rs 12,727 crore in the same period last year.
Analysts have predicted that the consumer staples sector may face challenges due to weak underlying demand, potentially leading to muted top-line growth for companies in this space.
DMart Share Price Today
The scrip fell as much as 0.82% to Rs 4,135 apiece. It pared losses to trade 0.20% lower at Rs 4,160.50 apiece, as of 10:17 a.m. This compares to a 0.40% advance in the NSE Nifty 50 Index.
It has fallen 15.07% in the last 12 months. The relative strength index was at 44.
Out of 21 analysts tracking the company, nine maintain a 'buy' rating, nine recommend a 'hold' and 13 suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 3.2%.
