Avenue Supermart Q4 results: Net profit increased by 41% to Rs 271 crore for FY20
Avenue Supermart Q4 results: It is one of the largest Indian chains of hypermarkets in India. The company founded by one of the Asians richest men and Ace Investor Radhakishan Damani. However, the supermart is located in 72 cities with almost 196 stores across 11 states in India. The Avenue Supermart is promoted by the brand name as DMart located in Mumbai.
Meanwhile, on Saturday, May 22, the company reported its Q4 results for the Financial Year 2020 ended on March 31st. The company’s consolidated net profit increased by almost 41.6% to Rs 271.28 crores in this quarter ended in March. The company also posted its standalone net profit of Rs 191.57 crores in the same quarter last financial year.
Besides, the company’s total revenue from operations increased by 23.6% to Rs 6,255.93 crores YoY. The company also posted its revenue of Rs 5,061.65 crores in the same quarter last year. The companies EBITDA margin decreased by 6.7% as against 7.4% in the same quarter last year. While the net profit margin of the company increased by 4.3% as against 3.8% in the same period last year.
On the other side, the revenue of the company on March 2020 increased by 11% as against to the last year. The main reason for this is due to the lockdown across India. While in April Half of the stores remained closed and the revenue of the company in April decreased by almost 45% as against the previous year, said the company in filling.
Besides, the company also mentioned its new stores are also impacted as the construction activities closed due to labor and material availability.
On Friday, May 22, the shares of Avenue Supermarts Ltd reported a bearish trend in the stock market. The company lost 75.25 points with a 3.05% decrease and reached 2,395.00 INR. While in BSE, the company lost 67.95 points with a 2.75% decrease and reached 2,402.55 INR.
Stock Market on May 22:
On Friday, both Sensex and Nifty reported a bearish trend in the stock market after bullish reports in the last two sessions. The Sensex is trading below 30,700 levels, and Nifty is trading above 9,100 levels in the stock market. The Sensex lost 260.31 points with a 0.84% decrease and reached a 30,672.59 level. While Nifty lost 67.00 points with a 0.74% decrease and reached 9,039.25 level.
On the other side, the number of coronavirus cases in India reached 1,25,101 as of Saturday, May 23, and deaths reached 3,720.
In the border market, the S&P BSE Smallcap index reported a bearish trend in the stock market on Friday. It lost 23.90 points with a 0.23% decrease and reached a 10,524.23 level. The S&P BSE Midcap index lost 93.82 points with a 0.83% decrease and reached an 11,270.02 level. While Nifty Bank lost 456.20 with a 2.57% decrease and reached a 17,278.90 level.
Top Gainers on May 22: Zee Entertainment, M&M, Cipla, Shree Cements, and Infosys are the top gainers in today’s stock market
Top Losers on May 22: Axis Bank, HDFC Bank, Bajaj Finserv, Bajaj Finance, and ICICI bank are the top losers in today’s stock market.