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Published on 13/07/2020 10:48:29 AM | Source: Angel Broking Ltd

Quote on Avenue Supermarts by Mr. Amarjeet Maurya, Angel Broking

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Below is the Views On Avenue Supermarts - 1QFY21 Result update by Mr. Amarjeet Maurya, AVP - Mid Caps, Angel Broking Ltd.

“For 1QFY21, ASL’s (Avenue Supermarts Ltd) top-line de-grew by ~33% yoy to Rs3,883cr. Top-line was negatively impacted mainly due COVID-19 lockdown. Currently, the company’s most of the stores operate at 80% of pre-covid sales level. However, discretionary consumption continues to be under pressure, especially in the Non-FMCG categories. On the operating front, the company reported margin contraction (down by 738bp YoY to 2.9%), primarily on account of lower sales. The reported net profit de-grew by ~88% YoY to Rs40cr due to lower sales and poor operating performance.”

 

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