Avenue Supermarts Gains Over Over 5% On Rise In Q3 Net Profit

Edited by Peter Noronha

11 Jan 2021, 10:53 AM IST

At 10:35 am, the Avenue Supermarts shares were trading higher by 1.36 per cent on the BSE

Avenue Supermarts shares zoomed more than 5 per cent on the BSE after the company reported a 16.4 per cent rise in consolidated net profit in the third quarter ended December 2020. The shares of Avenue Supermarts, the owner of DMart, soared to an intra-day high of Rs 3130, up 5.4 per cent on the BSE in early trading on the back of the stellar quarterly performance. At 10:35 am, the shares of Avenue Supermarts were trading off their intra-day highs at Rs 3,008, up 1.36 per cent on the BSE.

Avenue Supermarts, on Saturday, reported a better-than-expected 16 per cent year-on-year rise in consolidated net profit at Rs 447 crore for the December quarter as against a profit of Rs 384 crore in the same quarter last year. The company's total revenue for the quarter came in at Rs 7,542 crore, up 10.76 per cent compared to Rs 6,809 crore in the year-ago quarter.

The BSE Sensex was trading at 49,080, higher by 298.27 points or 0.64 per cent and the NSE Nifty was at 14,426.10, up 79 points or 0.55 per cent at the time.