Subscribe
    Business

    DMart Q3 Results: Radhakishan Damani’s company made tremendous earnings, the company’s profit increased to 590 crores

    Shehnaz AliBy Updated:No Comments3 Mins Read
    New Delhi: Avenue Supermarts Limited (DMart), a company of veteran industrialist Radhakishan Damani, has posted huge profits in the December quarter. Avenue Supermarts Limited’s revenue has increased by 25 percent. The net profit of the company has increased by 6.71 percent in the third quarter of the current financial year. It has become Rs 589.64 crore. This information has been given to the stock market on behalf of the company. On the other hand, if we talk about a year ago, then in the same quarter the net profit of the company was Rs 552.53 crore. According to the company, this time its net profit has increased by about 7 percent, while the consolidated revenue has increased by more than 25 percent. However, the company has achieved a decline in new store openings this quarter and the company’s operating margin has also come down. Let us tell you that Avenue Supermarts Limited has declared the results of the third quarter ended December on last Saturday.

    Multibagger Stock: ₹ 43 thousand profit in 2 days! This stock continues to hit upper circuit, investors get staggering returns

    The company gave this information

    The company said that on an annual basis, the consolidated net profit increased by 6.7% year-on-year. The growth came in below analyst estimates as the net profit was expected to be Rs 672 crore. According to the company, the consolidated revenue of the company has increased by 25.5 percent on an annual basis to Rs 11,569.05 crore. However, higher expenses and a sharp change in profit have impacted the bottomline this quarter. EBITDA has increased by 11.4 percent to Rs 965 crore on an annual basis. According to the company, the operating margin declined sharply by 106 basis points to 8.34 per cent during the December quarter.

    Multibagger Stock: 35 paise share did wonders! Those investing ₹ 1 lakh got 16 crores, share price increased to 554

    Dmart shares likely to rise

    With the increase in the profit of the company, there is a possibility of a rise in the shares. However, today i.e. on Monday, there has been a decline in the shares of Dmart. Today the shares of Dmart opened at the level of Rs 3,690.00. After this, it reached a high of Rs 3,748.00 in the day’s trade. After this it has closed at the level of Rs 3,680.25. Last week, ahead of the announcement of December quarter results, Dmart shares were marginally down. On Friday, at the close of the market, the share price of Dmart fell by Rs 56 to 3,855.

    Source: navbharattimes.indiatimes.com

    : Language Inputs

    This post is sourced from newspapers, magazines and third-party websites. For more information please check NewsDay Express Disclaimer.

    Share.

    Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

    Related Posts

    Comments are closed.