Shares of Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, fell over 4 per cent in morning trade on Monday, after the company reported a 9.09 per cent fall in consolidated net profit for the second quarter ended September 30.
The stock fell by 4 per cent to Rs 3,771.70 on the BSE.
At the NSE, it declined 4.14 per cent to Rs 3,772.75.
Avenue Supermarts Ltd on Saturday reported a 9.09 per cent fall in consolidated net profit at Rs 623.35 crore for the second quarter ended September 30, as gross margins were impacted due to lesser contribution from general merchandise and apparel business.
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The company had posted a net profit of Rs 685.71 crore in the July-September quarter a year ago, Avenue Supermarts said in a regulatory filing.
However, its revenue from operations was up 18.66 per cent to Rs 12,624.37 crore during the quarter under review, as against Rs 10,638.33 crore in the corresponding quarter last fiscal.
Avenue Supermarts' total expenses in Q2/FY24 were at Rs 11,809.35 crore, up 18.97 per cent.
D-Mart operates across Maharashtra, Gujarat, Daman, Andhra Pradesh, Karnataka, Telangana, Tamil Nadu, Madhya Pradesh, Rajasthan, NCR, Chhattisgarh and Punjab.
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