Monday, 8 May 2017

D-Mart stock drops 3% despite 52% surge in Q4 profit

Shares of Avenue Supermarts, the owner of D-Mart chain of supermarkets, tumbled over 3 per cent in Monday’s trade even as the company announced a 51.6 per cent jump in net profit at Rs 483 crore in the fourth quarter. Following the announcement, the stock dropped 3.15 per cent to hit a low of Rs 783.10 on BSE. The company on Friday said that its total revenue for the quarter rose 38.6 per cent YoY at Rs 11912 crore. “Valuations are on the higher, way on the .

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