Avenue Supermarts, the company that owns DMart retail chain, reported a decrease in net profit for the second quarter. The fall in profit was due to lower contributions from the general merchandise and apparel business, which affected gross margins.

Despite this, the company’s revenue from operations increased during the quarter. Avenue Supermarts opened nine new stores in the June quarter, bringing the total number of stores to 336.

Categories: Other News

Tags: Funding, Profit deceased, Startup