ECONOMY

Avenue Supermarts Q4 Review – Second Covid Wave To Be Temporarily More Taxing On Revenue: IDBI Capital

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Avenue Supermarts Ltd.’s Q4 FY21 results was better than expectations.

Business recovery during January-February 2021 remained strong driven by 6% same stores sales growth.

However, the month of March witnessed subdued demand due to local level restrictions on store operation.

Positively, DMart added 13 stores (of size approximately 50,000 square feet) during the quarter (22 stores in FY21).

Operating profit margin expanded due to better revenue mix and cost control.

However, management guides that currently more than 80% stores are operating for significantly lower number of hours due to lockdown/restriction imposed by state governments.

Click on the attachment to read the full report:

IDBI Capital Avenue Supermarts Q4Fy21 Result Update.pdf

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