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Avenue Supermarts, which operates the DMart chain of stores in India, reported its slowest net profit growth in eight quarters as the company grappled with growing competition in grocery retail.
For the three months ending December 31, 2018, the company on Saturday reported a 2.1 per cent net profit growth only, touching Rs 257 crore — lower than the Bloomberg consensus estimates of Rs 295 crore.
Revenue for the quarter was in line with Street estimates at Rs 5,451 crore, a year-on-year growth of 33 per cent as the company continued to cut prices aggressively to attract consumers. But, margins
