The resignation will be effective from 13 January 2021.
Udaya Bhaskar Yarlagadda, the chief operating officer, retail - west of Avenue Supermarts has tendered his resignation on 14 December 2020 due to his personal commitments.Shares of Avenue Supermarts were down 0.92% to Rs 2,646.30 on BSE.
Avenue Supermarts' consolidated net profit tumbled 38.5% to Rs 198.53 crore on 11.4% fall in net sales to Rs 5,306.20 crore in Q2 September 2020 over Q2 September 2019.
Avenue Supermarts owns and operates D-Mart stores. D-Mart is a national supermarket chain that offers customers a range of home and personal products under one roof. As of 30 September 2020, the company had 220 stores with Retail Business Area of 8.20 million sq. ft. across Maharashtra, Gujarat, Daman, Andhra Pradesh, Karnataka, Telangana, Tamil Nadu, Madhya Pradesh, Rajasthan, NCR, Chhattisgarh and Punjab.
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