D-Mart Shares Dive: Earnings Disappoint Investors

Avenue Supermarts Ltd, operating retail chain D-Mart, saw an 8% stock decline after lukewarm quarterly earnings. Despite a net profit rise to Rs 659.44 crore, revenue growth of 14.41% didn't meet investor expectations. Its shares plunged significantly on BSE and NSE amidst robust trading volumes.

Avenue Supermarts Ltd, the company behind the retail giant D-Mart, experienced a steep 8% drop in stock value as its quarterly earnings report left investors unimpressed. Despite a 5.78% increase in consolidated net profit, the growth appeared insufficient.

The company's shares closed at Rs 4,184.45 on the BSE, marking a substantial fall in market confidence. A similar decline was observed on the NSE, where shares settled at Rs 4,191. Promoted by Radhakishan Damani, D-Mart's August performance didn't align with market expectations.

The company's revenue rose 14.41% to Rs 14,444.50 crore, reflecting an increase from the previous year's Rs 12,624.37 crore. However, trading volumes remained high with significant activity reported across major exchanges, signifying investor interest amid a tumultuous period for the retailer.

(With inputs from agencies.)