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