Total revenue during the quarter under review increased 26.7% at Rs 45.59 billion as compared to 35.98 billion in the same period last year.
Analysts on an average had expected a profit of Rs 2.32 billion on revenue of Rs 44.03 billion for the quarter.
“The improved profit after tax for the quarter is due to better operational performance and lower impact of interest cost as compared to last year June quarter,” Avenue Supermarts said in a press release.
The company’s EBITDA margin improved from 8.4% in Q1FY18 to 9.3% in Q1FY19.
The stock surpassed its previous high of Rs 1,622 recorded on June 13, 2018, on the BSE in intra-day trade. In past one year, it rallied 81% as compared to a 15% rise in the S&P BSE Sensex. Since debut on March 21, 2017, the stock zoomed 160% against 27% gain in the benchmark index.
A sharp run-up in share price has seen the market capitalisation of Avenue Supermarkets crossed Rs 1-trillion mark at Rs 1.03 trillion, the BSE data shows.
At 10:35 am; the stock was trading 3.5% higher at Rs 1,649 on the BSE, as compared to a 0.4% decline in the Sensex. The trading volumes on the counter more than doubled with a combined 1.09 million equity shares changed hands on the BSE and NSE.