DMart shares drop 8.5% on disappointing Q2 results
DMart shares drop 8.5% on disappointing Q2 results; brokerages downgrade amid online competition
Shares of Avenue Supermarts- the parent company of the popular Indian supermarket chain DMart, fell by nearly 8.5% on Monday, hitting a low of ₹4,187.25 on the BSE on the back of weak Q2 earnings impacted by the growing popularity of online grocery platforms in the country.
DMart shares plunge 9% as it misses Q2 street estimates; brokerages mixed
In the September quarter (Q2FY25), DMart’s net profit increased 5.8 per cent year-on-year (Y-o-Y) to Rs 659.6 crore, compared to Rs 623.6 crore in the same quarter previous fiscal (Q2FY24). The revenue rose 14.4 per cent annually to Rs 14,444.5 crore, up from Rs 12,624.37 crore in Q2FY24.
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Centrum Broking said a subdued discretionary spending and competitive pressure led to the muted Q2 results. The brokerage tweaked its earnings estimates but said it has upgraded the stock to 'Buy' after the recent price correction.
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Shares of Avenue Supermarts-owned DMart dropped by 9.3% following disappointing Q2 earnings, leading to downgrades from major brokerage firms. Q2 profit saw an 8% YoY jump but decreased by over 12% from the prior quarter,
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Shares of Avenue Supermarts dipped as much as 7 per cent in today’s morning session. The DMart operator witnessed a 16.2% YoY growth in its total revenue (consolidated) for the quarter ended on September 30,
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