Dmart Shares Plummet Following Disappointing Q2 Results, Market Value Drops by ₹27,000 Crore

Dmart shares: Demart shares declined after disappointing Q2 results. As a result, the market value of Rs. 27 thousand crores evaporated. Dmart shares | Delhi: Shares of Avenue Supermarts Limited, which runs a nationwide retail business under the name of Dmart, declined on Monday. Shares tumbled 9 percent this morning after the company failed to impress investors with results announced for the quarter ended September. As a result, the company's market value has evaporated by Rs. 27 thousand crores.

Demart posted a net profit of Rs 659.44 crore on a consolidated basis for the July-September quarter of the current fiscal. It has increased by 5 percent compared to last year. The income also increased by 14.41 percent to Rs.14,444.50 crores. At the same time it reported an increase of 14.94 percent in expenses. These results failed to impress investors. Due to this, the brokerage firms reduced the Demart target price. Demart shares fell today due to this. On the other hand, analysts say that the competition facing Demart from quick commerce companies is also another reason. Shares of Demart fell 9.46 percent to Rs 4,139 on the National Stock Exchange on Monday morning, while they traded at Rs 4,143.60, down 9.37 percent on the BSE. The market value of the company declined by around Rs 27,900 crore to Rs 2.69 lakh crore. Demart shares were trading with a loss of 8.30 percent by 12.50 pm. On the other hand, Sensex gained 608 points at 81,990 points and Nifty gained 170 points at 25,134 points.