DMart shares slip 9% after downgrades from brokerage firms on Q2 miss
Shares of Avenue Supermarts-held DMart slipped 9.3% in an early trading session on Monday to day’s low of Rs 4,143.60 on the BSE as the company earned several downgrades from various brokerage firms with the target price going down to Rs 3,702 as Q2 earnings disappointed the Street.
The company reported an 8% YoY jump in the Q2 profit, which was weighed down by the increasing impact of the quick commerce segment.
However, profit after tax for the reported quarter decreased by over 12%, falling from Rs 812.45 crore in the April-June quarter.
Revenue from operations stood at Rs 14,050.32 crore, reflecting a 14% increase compared to Rs 12,307.72 crore reported in the same period last year.
Here is how brokerages viewed the Q2…
