India's Avenue Supermarts falls on 4-year-low rev growth

Avenue Supermarts

14/10/2024 05:20

** Shares of Avenue Supermarts  AVEU.NS  fall as much as
9.5% to 4,140 rupees, lowest since March 21
    ** DMart stores operator's rev growth slows to 4-year low of
14% in Q2, while EBITDA margin contract on higher operating
costs
    ** Systematix Institutional Equities says offline operating
rev was subdued; store opening rate remained weak
    ** Antique Stock Broking says increasing online competition,
especially quick commerce, hurt revenue
    ** Stock cuts YTD gains to 3%

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))