Avenue Supermarts Ltd. reports surge in Q3 revenue
Avenue Supermarts Ltd., the company behind DMart retail chain, has reported a significant surge in standalone revenue from operations for the third quarter of FY 2024-25. The revenue has increased by 17.5% to reach ₹15,565.23 crore, compared to ₹13,247.33 crore in the same period last year.
Key Highlights:
- Dmart shares were trading 11.41% higher at ₹4,030.50 at 3 pm on the BSE on Friday.
- Goldman Sachs has reduced the stock’s price target to ₹3,425 and also decreased earnings estimates for the next three years.
- DMart’s valuation saw a significant surge of 44% to ₹3.4 lakh crore, as per the Hurun report.
- The total store count for Avenue Supermarts stands at 387.
Market Updates:
The stock hit a 52-week high of ₹5,484.00 on September 24, 2024, and a 52-week low of ₹3,400.00 on December 20, 2024, on the BSE. Shares of Avenue Supermarts soared by 13.33% after the company reported a 17.5% surge in revenue for the quarter ended December 31, 2024.
Challenges and Growth:
Despite facing competition from quick-commerce players, DMart’s valuation has witnessed significant growth. Radhakishan Damani, the promoter of DMart, has shown remarkable growth in company valuation, reflecting his entrepreneurial success. The company’s revenue surge indicates its resilience and growth potential in the market.
Conclusion:
The performance of Avenue Supermarts Ltd. in the third quarter is promising, showcasing its ability to adapt to market challenges and maintain growth momentum. Investors and industry analysts are closely monitoring the company’s progress and market dynamics to assess future prospects.