Shares of Avenue Supermarts, the company that operates retail chain Demart, fell 8% today after its second quarter results for the financial year 2024-25. In fact, the company's consolidated net profit in the second quarter was Rs. 659.58 crores, showing an increase of only 5.77% year-on-year.
In the same quarter last year, the company posted Rs. 623.56 crore net profit was reported. However, profit fell by 14.74% on a quarterly basis. The company in Q1FY25 had Rs. 773 crore profit, which has now come down to Rs. 659 crores.
Consolidated revenue grew by 14.4%
In the July-September quarter, the company posted Rs. 14,444.50 crore has registered a consolidated revenue. It has increased by 14.4% year-on-year. A year ago i.e. in July-September 2023, the company earned Rs 12,624.37 crore. The company announced results for the second quarter of fiscal 2025 on Saturday (October 12).
Shares of Demart have gained just 3.30% so far this year Shares of Demart are currently trading at 4,198.70, down 8.18%. Its stock has given a negative return of 19.33% in the last 1 month. Also, the stock has also declined 10.41% in the last 6 months. Demart shares have returned only 3.30% so far this year.
Damani is the founder of supermarket chain Demart
Radhakishan Damani is the founder of supermarket chain Demart. He started Demart in 2002 from Powai area of Mumbai. Here he opened the first Demart store. In 1999, Damani started a franchise of 'Apna Bazar' in Nerul, Navi Mumbai, but he didn't like the model.
Dimart made its stock market debut in 2017
Demart 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 debuted in the stock market in 2017.
D-Mart was listed on the stock market on 21 March 2017, on which day the company had a market cap of Rs. 39,988 crores. Now it has crossed 3 lakh crores.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
