Brokerages are impressed by the pickup in Avenue Supermarts store additions, and improvement in general merchandise and apparel into its mix. While JPMorgan upgraded the stock, Nuvama raised its target price.
DMart Ready, the e-commerce business, commenced operations in one new city(Gurugram) during the year while continuing to deepen its presence in existing cities.
Avenue Supermarts Q4 earnings results showed a net profit of Rs 505 crore, an 8.3% YoY increase, while revenue for the period was Rs 10,337 crore, a significant growth compared to the previous year. EBITDA for Q4FY23 stood at Rs. 782 crore, up from Rs. 742 crore YoY. However, the EBITDA margin declined to 7.6%, down from 8.6% YoY. , Companies News, Times Now