Shares of Avenue Supermarts shed nearly 4 percent intraday Monday despite strong numbers posted by the company in the quarter ended March 2018.
The company’s Q4 (Jan-March) net profit increased by 73 percent at Rs 167.1 crore against Rs 96.7 crore in the same quarter last fiscal.
Revenue of the company jumped 22.5 percent at Rs 3,810 crore versus Rs 3110.6 crore.
The operating profit or EBITDA gained 41.7 percent at Rs 294.5 crore and margin was up 100 bps at 7.7 percent.
Total revenue for FY18 stood at Rs 15,009 crore, as compared to Rs 11,881 crore for FY17. Its EBITDA in FY18 stood at Rs 1,337 crore, as compared to Rs 964 crore during FY17.
The companys EBITDA margin improved from 8.1% FY17 to 8.9% in FY18. For FY18 its net profit grew by 62.6% to Rs 785 crore, as compared to Rs 483 for last year.
Neville Noronha, CEO & Managing Director, Avenue Supermarts said, Deflation in staples, tax rates not being comparable, store addition not in line with expectation and base effect of demonetization has made March 2018 revenue a little tepid. Grooming talent and store addition shall continue to remain two main challenges as well as focus areas for the Company.
At 09:55 hrs Avenue Supermarts was quoting at Rs 1,456, down Rs 33.55, or 2.25 percent on the BSE.
Posted by Rakesh Patil