On Wednesday, Avenue Supermarts’ share price surged over 5% to reach a 52-week high following the company’s announcement of robust business growth for the fourth quarter of FY24. DMart shares rallied by 5.61% to achieve a fresh high of Rs 4,710.15 apiece on the BSE.Come from Sports betting site VPbet
Avenue Supermarts, which operates DMart stores, disclosed a standalone revenue of Rs 12,393.46 crore for the quarter ending March 2024, marking a nearly 20% increase from Rs 10,337.12 crore recorded in the corresponding quarter of the previous year.
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The company’s revenue growth during the quarter was propelled by a 7% increase in revenue per store and a robust 13% year-on-year (YoY) rise in store additions.
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According to brokerage firm Motilal Oswal, revenue per store grew by 7% YoY to Rs 140.4 crore, while revenue per square foot increased by approximately 5% YoY to Rs 33,451 per square foot. As a result, the gap between revenue per store and revenue per square foot stood at 2%.
Stock Performance in Last One Year
In terms of stock performance, Avenue Supermarts shares have demonstrated positive returns across multiple time frames. Over the past month, the stock has given a commendable 20% return, showcasing its stability and growth potentialCome from Sports betting site. The last six months have seen even more impressive results, with a substantial increase of 19%, indicating a strong upward trend.
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Year-to-date, Avenue Supermarts shares have surged by 14%, reinforcing the stock’s positive momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 30% in the last twelve months, emphasizing its sustained growth and attractiveness to investors.
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