Avenue Supermarts in focus post Q2FY20 results

Avenue Supermarts has reported results for second quarter ended September 30, 2019. The company could not please the Street with its Q2FY20 numbers.

The company on the consolidated front has reported 47.71 per cent rise in its net profit at Rs. 322.63 crore for the quarter under review as compared to profit of Rs. 218 crore for the same quarter in the previous year. The net sales of the company increased by 22.44 per cent at Rs. 5,990.78 crore for Q2FY20 as compared Rs. 4,892.81 crore for the corresponding quarter previous year.

However, if we compare on a QoQ basis, on the consolidated front, the company has reported a marginal fall of 0.13 per cent in its net profit for Q2FY20 as compared to the net profit of Rs. 323.06 crore for the previous quarter in the same year. Total income of the company increased marginally by 3.03 percent for Q2FY20 as compared Rs. 5814.56 crore for Q1FY20.

 The shares of Avenue Supermarts on Monday opened at Rs. 1850.00 as against Friday’s close of Rs. 1843.00 per share on the BSE. At 12:42 hours, the stock was trading at Rs. 1832.30, down by 0.56 per cent. The stock hit an intraday high of Rs. 1863.00 and intraday low was Rs. 1803.55. Its 52-week high was Rs. 1944.00 and 52-week low was Rs. 1,126.00 per share on the BSE.