India's DMart falls on quarterly profit miss, margin drop

Avenue Supermarts

15/05/2023 05:06

May 15 (Reuters) - Shares of India's Avenue Supermarts
Ltd  AVEU.NS , which operates the DMart retail chain, fell 3.5%
on Monday after the company's fourth-quarter profit missed
estimates and core profit margin contracted.
    Earnings before interest, taxes, depreciation and
amortization (EBITDA) margin fell to 7.3% in the reported
quarter from 8.4% in the year-ago period, the company said on
Saturday.
    DMart's profit rose nearly 8% to 4.60 billion rupees
year-on-year, but missed analysts' estimate of 5.21 billion
rupees, according to Refinitiv IBES data.
    
    

 (Reporting by Aleef Jahan in Bengaluru; Editing by Sherry
Jacob-Phillips)