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DMart Q4 results: Share price falls over 4% as Q4 margins disappoint
Shares of Avenue Supermarts, the operator of DMart retail chain, declined over 4% Monday after the company’s operating margin declined in the March quarter, missing analysts’ estimates. DMart shares fell as much as 4.86% to hit an intraday low of ₹3,501.10 apiece on the BSE, in the early morning trade. Avenue Supermarts reported standalone net profit of ₹505.21 crore for the quarter ended March 2023, registering a growth of 8.3% from ₹466.35 crore in the corresponding quarter last fiscal. Radhakishan Damani-owned Avenue Supermarts reported revenue at ₹10,337.12 crore, up by 21.11% as against ₹8,606.09 crore in the corresponding quarter in the last fiscal. However, in Q4FY23, DMart's EBITDA margin contracted by 110 bps to 7.3% as compared to 8.4% on a year-on-year basis while EBITDA was up 4% at ₹772 crore. "Lower consumer spending in general merchandise and apparel continues and has impacted the margin mix downwards," said Avenue Supermarts CEO and MD Neville Noronha. Source - https://www.livemint.com/market/stock-market-news/dmart-q4-results-share-price-falls-over-4-as-q4-margins-disappoint-11684123719753.html
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