mumbai2 days ago
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Shares of Avenue Supermarts, which operates retail chain DMart, fell more than 8% today following the release of second-quarter results for the 2024-25 financial year. After full day trading, the stock closed at Rs 4,191, down 8.35%. In fact, the company’s consolidated net profit in the second quarter was 6,595.8 crore rupees, an increase of only 5.77% year-on-year.
In the same quarter last year, the company’s net profit was 623.56 billion rupees. However, on a quarterly basis, profits fell by 14.74%. The company’s profit in the first quarter of fiscal 2025 was Rs 773 crore, which has now fallen to Rs 659 crore.
Comprehensive income increased by 14.4%
The company’s consolidated revenue for the July-September quarter was Rs 14,444.5 crore. An increase of 14.4% compared with the same period last year. A year ago, in July-September 2023, the company had revenue of Rs 12,624.37 crore. The company released its second-quarter fiscal 2025 results on Saturday (October 12).
Dmart stock price is up only 3.30% so far this year DMart shares closed at Rs 4,191, down 8.35%. Its stock has a negative return rate of 19.48% in the past one month. Meanwhile, the stock has also lost 10.58% in the past 6 months. DMart stock has returned just 3.11% so far this year.
Damani is the founder of supermarket chain Dmart.
Radhakishan Damani is the founder of supermarket chain Dmart. He founded DMart in 2002 in Powai area of Mumbai. He opened the first DMart store here. In 1999, Damani opened the “Apna Bazaar” franchise store in Nirul, Navi Mumbai, but he did not know the specific model.
Dimart went public in 2017
The DMart supermarket chain is operated by Avenue Supermarts Limited (ASL). The CEO of Avenue Supermarts is Neville Noronha. Radhakishan Damani, 68, whose company Dimart first went public in 2017.
D-Mart was listed on the stock market on March 21, 2017. The company’s market capitalization on that day was 399.88 billion rupees. It has now crossed Rs 300 crore.