DMart Q3 Business Update Garners Cautious Approval from Brokerages; Analysts Urge Acceleration
As of December, Avenue Supermarts (DMart) reported a total of 341 stores.
In the past year, the stock has seen a modest increase of 0.77%, while over the last five years, it has surged by an impressive 159.29%.
DMart, the retail chain operated by Avenue Supermarts., received a blend of responses in its Q3 update. Brokerages acknowledge operational enhancements and business resilience but call for an expedited pace and strategic overhaul to propel faster growth. At the market opening, the stock witnessed a 2% decline, trading at Rs 4,010.25.
Over the preceding year, the stock demonstrated a marginal gain of 0.77%, marking an outstanding surge of 159.29% over the past five years. On December 2, it closed at Rs 4,091. In Q2FY24, the consolidated net profit stood at Rs 623.35 crore compared to Rs 685.71 crore in Q2FY23. The EBITDA margin for the same period settled at 8%, down from 8.4% in Q2FY23.
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