Avenue Supermarts shares gain in early trade post 22% surge in revenue in December 2021 quarter

The shares of Avenue Supermarts Ltd gained over 2 per cent to day's high of Rs 4,799 per share on the BSE in Monday's intraday trade after the D-Mart standalone revenue rose 22% to Rs 9,065 crore in the December quarter. Avenue Supermarts is the parent company of D-Mart.

Avenue Supermarts, in a BSE filing, said that its standalone revenue from operations for the quarter ended December 2021 jumped by 22 per cent on a YoY basis to Rs 9,065.02 crore as against Rs 7,432.69 crore in December 2020 quarter. The standalone revenue from operations stood at Rs 6,751.94 in the same quarter of 2019.

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At 9.40 am, the shares of the company that owns and operates retail chain D-Mart were trading higher by Rs 70.10 or 1.50% to Rs 4,739.80 on the BSE on Monday.  

Founded by Indian billionaire and ace investor RK Damani, the company runs 263 stores across the country as of December 31, 2021.  Radhakishan Damani over 65 per cent stake in the company as on September 2021 quarter data. 

The shares of Avenue Supermarts hit the 52-week high value of Rs 5,899 per share on the BSE on October 18, 2021 and the share traded on the one-year low of Rs 2610.80 on January 29, 2021.