Following the results of the second quarter of the financial year 2024-25, shares of Avenue Supermarts, the company that operates the DMart retail chain, today saw a drop of over 8%. After trading throughout the day, the stock closed at Rs 4,191 with a decline of 8.35%. In fact, in the second quarter, the company’s consolidated net profit stood at Rs 659.58 crore, an increase of just 5.77% on a year-on-year basis.
In the same quarter last year, the company had reported a net profit of Rs 623.56 crore. However, on a quarterly basis, profit decreased by 14.74%. The company had reported a profit of Rs 773 crore in the first quarter of FY25, which has now fallen to Rs 659 crore.
Consolidated turnover increased by 14.4%
The company recorded a consolidated turnover of Rs 14,444.50 crore during the July-September quarter. There was an increase of 14.4% on an annual basis. A year ago, i.e. July-September 2023, the company had earned Rs 12,624.37 crore. The company published the results for the second quarter of the 2025 financial year on Saturday, October 12.
Dmart shares are up just 3.30% so far this year DMart shares closed at Rs 4,191 with a decline of 8.35 per cent. Its stock returned a negative 19.48% over the past month. At the same time, the stock has also fallen by 10.58% over the past 6 months. So far this year, DMart shares have returned just 3.11%.
Damani is the founder of the Dmart supermarket chain.
Radhakishan Damani is the founder of the Dmart supermarket chain. He started DMart in 2002 in the Powai area of Mumbai. Here he opened the first DMart store. In 1999, Damani had started a franchise ‘Apna Bazaar’ in Nerul, New Mumbai, but he did not know the model.
Dimart debuted on the stock market in 2017
The DMart supermarket chain is operated by Avenue Supermarts Limited (ASL). The CEO of Avenue Supermarts is Neville Noronha. The company Dimart of Radhakishan Damani, 68, made its stock market debut in 2017.
D-Mart was listed on the stock exchanges on March 21, 2017, on that day the company’s market capitalization was Rs 39,988 crore. Now it has crossed Rs 3 lakh crore.