Shares of retail chain Avenue Supermarts (DMart) dipped 5 per cent on BSE to an intra-day low of Rs 3,501 apiece on Monday as the company’s weaker product mix continued to weigh on the operating profit margins in the March quarter leading to a lower-than-expected performance.
The company’s consolidated profit after tax rose 7.7 per cent YoY to Rs 460 crore in Q4FY23 on a 21 per cent jump in revenue led by store count additions.
However, the yearly earnings before interest, tax, depreciation and amortisation (EBITDA) growth of 5.4 per cent was the slowest pace of increase seen since its listing and was much below analyst estimates.
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