Avenue Supermarts Q3 results 2024: DMart may report rise in revenue, PAT on operating profit growth

The company results season for the third quarter of the financial year 2023 24 kickstarted on 11th January 2024. After the announcement of Q3 results 2024 by companies like Infosys, Tata Consultancy Services (TCS), , HCL Technologies, HDFC AMC, HDFC Life, Anand Rathi, , etc, Ltd, which is doing business as DMart, is going to declare its Q3 results today.

Avenue Supermarts results date, other details Informing Indian exchanges about the board meeting and its agenda, Avenue Supermarts said in , "Pursuant to Regulation 29 of the Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that meeting of the Board of Directors of the Company is scheduled to be held on Saturday, January 13, 2024 to, inter alia, consider and approve the Un audited Standalone & Consolidated Financial Results of the Company for the quarter and nine months ended on December 31, 2023." According to experts, Radhakishan Damani's retail corporation has reported a decent business update for the October to December 2023 quarter.

They said that the retail supermarket chain company is expected to register robust growth in operational business, which is a good sign for revenue growth of companies like DMart. Experts went on to add that Radhakishan Damani's company may also deliver promising growth in profit during Q3FY24.

Avenue Supermarts Q3 results 2024 preview Speaking on the upcoming Avenue Supermarts Q3 results 2024, Amit Goel, Co Founder & Chief Global Strategist at Pace 360 said, "We anticipate that the company's revenue is poised to rise by 5.95% on a quarter on quarter (QoQ) basis, reaching 13,375 crore, showcasing steady growth from the previous 12,624 crore.

Our optimistic outlook extends to the company's operational performance, with the expectation of a robust 32% increase in operating profit on a QoQ basis, projecting it to reach 1,095 crore compared to the prior quarter's 830 crore." "In terms of the bottom line, we foresee a promising 22.80% QoQ increase in profit after tax, with an estimated figure of 765 crore, as opposed to the previous 623 crore," Amit Goel added.

Taking a cue from DMart's Q3FY24 business update, Parth Shah, Research Analyst at StoxBox said, "Avenue Supermarkets reported a decent business update in Q3FY23. It showed a 17.18% YoY improvement in its standalone revenue from operations to Rs. 13,247 crores, driven by 5% growth in revenue per store to Rs.

1,565 million and 11% store addition. We believe that the consolidation in the industry will increase the bargaining power of competitors in the brick and mortar retail segment, which may impact the gross margin of the company over the medium term. Also due to the recent food inflation high, its EBITDA will have an impact in the medium term." "Though the company’s business model remains strong, we believe that growth to see some moderation in Q3FY24.

Thus we see limited growth in its profitability. The competitive intensity is also increasing because of the higher focus of e retailers in the FMCG space. Thus apart from the numbers, the management’s commentary on e retail will be key monitorable in Q3FY24 results," StoxBox expert added. Avenue Supermarts share price target Advising stock market investors to add DMart shares to their portfolio, Amit Goel of Pace 360 said, "Avenue Supermarts share price has remained flat during the previous three months (from 3,862 to 3,850).

DMart share price is worth considering for purchase. The current dip should be viewed as a buying opportunity, as the stock has the potential to reach 4,200 within the next 3 to 6 months." Livemint tops charts as the fastest growing news website in the world to know more. Unlock a world of Benefits! From insightful newsletters to real time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away!.