Mumbai32 minutes ago
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After the results of the second quarter of the financial year 2024-25, today the shares of Avenue Supermarts, the company operating the retail chain DMart, are seeing a decline of 8%. In fact, in the second quarter, the company's consolidated net profit stood at Rs 659.58 crore, an increase of only 5.77% on an annual basis.
In the same quarter last year, the company had registered a net profit of Rs 623.56 crore. However, on quarterly basis the profit has declined by 14.74%. The company had recorded a profit of Rs 773 crore in Q1FY25, which has now come down to Rs 659 crore.
Consolidated revenue increased by 14.4%
The company has registered a consolidated revenue of Rs 14,444.50 crore in the July-September quarter. There has been an increase of 14.4% on annual basis. A year ago i.e. in July-September 2023, the company had earned Rs 12,624.37 crore. The company had released the results for the second quarter of financial year 2025 on Saturday (October 12).
Dmart shares rose only 3.30% so far this year DMart shares are currently trading at 4,198.70 with a decline of 8.18%. Its stock has given a negative return of 19.33% in the last 1 month. At the same time, the stock has fallen 10.41% in the last 6 months also. So far this year, DMart shares have given returns of only 3.30%.
Damani is the founder of supermarket chain Dmart.
Radhakishan Damani is the founder of supermarket chain Dmart. He started DMart in 2002 from Powai area of Mumbai. Here he opened the first store of DMart. In 1999, Damani had started a franchise of 'Apna Bazaar' in Nerul, New Mumbai, but he did not know the model.
Dimart debuted in the stock market in 2017
The DMart supermarket chain is operated by Avenue Supermarts Limited (ASL). The CEO of Avenue Supermarts is Neville Noronha. 68-year-old Radhakishan Damani's company Dimart had debuted in the stock market in 2017.
D-Mart was listed in the stock market on 21 March 2017, on that day the company market cap was Rs 39,988 crore. Now it has crossed Rs 3 lakh crore.
