Home Food Avenue Supermarts Q2 net jumps 18 pc to Rs 225 crore

Avenue Supermarts Q2 net jumps 18 pc to Rs 225 crore

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, which runs the supermarkets chain, has posted 18.1 percent jump in its net profit to Rs 225.7 crore for the quarter ended September 30.

Avenue Supermarts Q2 net jumps 18 pc to Rs 225 crore
Basic earnings per share (EPS) for the reported quarter was at Rs 3.62 as compared to Rs 3.06 in the year-ago period

According to a PTI report: The company had reported a net profit of Rs 191.04 crore in the corresponding quarter a year ago. Its revenue from operations in the quarter under review stood at Rs 4,872.5 crore, up 38.9 percent, as against Rs 3,506.9 crore in the year-ago period, Avenue Supermarts said in a BSE filing.

Basic earnings per share (EPS) for the reported quarter was at Rs 3.62 as compared to Rs 3.06 in the year-ago period.

Avenue Supermarts CEO and Managing Director said during the quarter, the company continued to bring down prices for customers across categories.

“Our revenue growth in Q2 is a reflection of these price cuts,” he was further quoted by PTI as saying.

As on September 30, 2018, the company had 160 stores in Maharashtra, Gujarat, Daman, Andhra Pradesh, Karnataka, Telangana, Tamil Nadu, Madhya Pradesh, Rajasthan, NCR, Chhattisgarh and Punjab.