ECONOMY

Avenue Supermarts Q1 Review – Accelerated Store Addition To Spur Revenue Growth: ICICI Direct

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Avenue Supermarts Ltd.’s operating performance was a miss on consensus estimates as Ebitda margins came in lower than expected.

Reported revenue de-growth of 30% QoQ to Rs 5183.2 crore (up 33.5% YoY).

Gross margins declined 170 basis points QoQ to 13.1%, with Ebitda margins contracting 390 basis points QoQ to 4.3%.

Lower other income (down 35% QoQ) further impacted profitability with profit after tax coming in at Rs 95.4 crore (Q4 FY21: Rs 413.9 crore, Q1 FY21: Rs 40.1 crore).

Added four new stores taking total count to 238 stores (9.0 million square feet).

Click on the attachment to read the full report:

ICICI Direct Avenue Supermarts Q1FY22 Results Update.pdf

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