D-Mart parent, Avenue Supermarts' shares jump nearly 4% on strong June quarter earnings

Avenue Supermarts' market valuation rose by Rs 3,751.56 crore to surge past Rs 1,03,145.56 crore on the BSE

Press Trust of India July 31, 2018 19:10:15 IST
D-Mart parent, Avenue Supermarts' shares jump nearly 4% on strong June quarter earnings

New Delhi: Shares of Avenue Supermarts rose by nearly 4 percent on Tuesday after the company reported a growth of 43.4 percent in profit after tax for the quarter ended 30 June.

The stock went up by 3.77 percent to settle at Rs 1,652.75 on the BSE. During the day, it jumped 4.46 percent to Rs 1,663.80 -- its 52-week high.

On the NSE, shares of the company rose by 3.68 percent to end at Rs 1,653.60.

DMart parent Avenue Supermarts shares jump nearly 4 on strong June quarter earnings

Representational image. Reuters.

The company's market valuation rose by Rs 3,751.56 crore to surge past Rs 1,03,145.56 crore on the BSE.

In terms of equity volume, 2.59 lakh shares of the company were traded on the BSE and over 16 lakh shares changed hands on the NSE during the day.

The company reported a net profit of Rs 251 crore for the first quarter of FY19, as compared to Rs 175 crore in the corresponding quarter of last year, the company said in a BSE filing yesterday.

Total revenue for the quarter ended June 30 stood at Rs 4,559 crore, as compared to Rs 3,598 crore in the same period of the last year.

Avenue Supermarts owns and operates D-Mart stores.

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