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<ul><li>The 30-share BSE index Sensex was up 228 points, and the NSE Nifty rose 0.59% at 9:55 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices opened on a higher note on Friday, tracking gains in index majors HDFC Bank, ICICI Bank and TCS amid positive cues from the global markets. The 30-share BSE index Sensex was up 228 points, and the NSE Nifty rose 0.59% at 9:55 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shree Cement </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UltraTech Cement </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GAIL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HUL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td></tr></tbody></table>*as of October 23, 10:00 am These are the top stocks in news today. SBI Cards plunge over 10% The shares of SBI Cards opened nearly 10% lower after the company reported a 46% dip in its net profit to ₹206 crore for the second quarter ended September 30. Bad loans due to spike in loan defaults remained the concern with its gross non-performing assets (NPAs) rising to 4.3% compared to the same period last year. Bharti Infratel gains over 3% Bharti Infratel shares soared over 3% after the telecom infrastructure firm’s overall revenue grew by about 2% to ₹3,695 crore during the second quarter ended September 30. However, its consolidated net profit dropped 24% to ₹733 crore for the quarter. MphasiS up over 4% The shares of IT services company MphasiS gained over 4% after its gross revenue grew 12.9% YoY in the second quarter ended September 30. The company said its net profit grew 9.5% YoY to ₹299.2 crore. Biocon dips 1% post earnings The shares of Kiran Mazumdar-Shaw led biopharmaceutical company Biocon dipped over a percent after the company reported a 23.8% drop in its net profit to ₹200.40 crore. The profit plunge is despite the 11.33% growth in its total revenue to ₹1,744.80 crore. Zydus Cadila and Dr Reddy Laboratories up 1%, Cipla gains 2% The shares of Pharma major Cipla, Zydus Cadila and Dr Reddy Laboratories were trading in green during the early hours of market opening. The boost comes in after the US regulators have given full approval for the antiviral drug remdesivir to treat COVID-19 patients in hospitals. The US Food and Drug Administration (FDA) said Veklury, the drug's brand name, cut the recovery time on average by five days during clinical trials. Avenue Supermarts gains 1%, Cochin Shipyard leaps 5% The shares of India’s largest shipbuilding and maintenance company, Cochin Shipyard gained over 5% after the founder of Avenue Supermarts, Radhakishan Damani bought 0.5% equity stake in the company for ₹394.14 per share. Avenue Supermarts also gained nearly a percent post the announcement. SEE ALSO: <a href="https://www.businessinsider.in/india/news/trump-calls-india-china-and-russia-filthy-while-justifying-exit-from-paris-agreement/articleshow/78821267.cms" data-type="tilCustomLink">Trump calls India, China and Russia ‘filthy’ while justifying exit from Paris Agreement</a> <a href="https://www.businessinsider.in/science/health/news/gileads-remdesivir-just-got-the-first-fda-approval-to-be-used-as-a-treatment-for-coronavirus-patients/articleshow/78818920.cms" data-type="tilCustomLink">Gilead's remdesivir just got the first FDA approval to be used as a treatment for coronavirus patients</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-cipla-zydus-cadila-dr-reddy-laboratories-tech-mahindra-avenue-supermarts-cochin-shipyard-and-others/articleshow/78820314.cms" data-type="tilCustomLink">Top stocks to watch — Cipla, Zydus Cadila, Dr Reddy Laboratories, Tech Mahindra, Avenue Supermarts, Cochin Shipyard, and others</a>

Top stock movers — Tata Motors, SBI Cards,  Cochin Shipyard, Zydus Cadila, Cipla, Dr Reddy’s, MphasiS, and others

<ul><li>The SGX Nifty was trading 0.06% lower at 7:45 am, indicating a tepid opening for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst mixed cues from the global markets, the Indian equities are likely to open flat on Friday. The SGX Nifty was trading 0.06% lower at 7:45 am, indicating a cautious opening for Nifty50. However, the US stocks closed higher on Thursday after Nancy Pelosi suggested that there has been progress and were ‘close’ to a stimulus deal. Dow Jones gained over 152 points, and the S&amp;P 500 ended 0.52% higher. These are the stocks to watch out for during the trading session on October 23: Tech Mahindra IT major Tech Mahindra’s US subsidiary will acquire 6.03% stake in US-based VitalTech Holdings, Inc for $3 million. The tentative date of closure of the transaction is October 26, it said in a regulatory filing. Tech Mahindra will also report its quarterly earnings today. The shares of Tech Mahindra ended 0.80% lower on Thursday. Cipla, Zydus Cadila, Dr Reddy Laboratories and other pharma companies The shares of Cipla, Zydus Cadila, Dr. Reddy Laboratories and other pharma companies will be in focus today. The US regulators have given full approval for the antiviral drug remdesivir to treat COVID-19 patients in hospitals. The US Food and Drug Administration (FDA) said Veklury, the drug's brand name, cut the recovery time on average by five days during clinical trials. HDFC AMC HDFC Asset Management Company has appointed KPMG as the internal auditor with immediate effect after Gautam Chandra, HDFC AMC’s former internal audit head resigned. The company also reported a 8% decline in profit after tax at ₹338.06 crore for the quarter ended September 30. The shares of HDFC AMC ended 1% higher on Thursday. Biocon Kiran Mazumdar-Shaw led biopharmaceutical company, Biocon reported a 23.8% drop in its net profit to ₹200.40 crore. This is despite 11.33% growth in its total revenue to ₹1,744.80 crore. The shares of Biocon ended 2.3% higher on Thursday. Avenue Supermarts and Cochin Shipyard The founder of Avenue Supermarts, Radhakishan Damani bought 0.5% equity stake in India’s largest shipbuilding and maintenance company, Cochin Shipyard for ₹394.14 per share. The shares of Avenue Supermarts and Cochin Shipyard ended 2% and 9% higher on Thursday, respectively. Bharti Infratel Telecom infrastructure firm Bharti Airtel on Thursday posted a 24% drop in consolidated net profit to ₹733 crore for the quarter ended September 30. The overall revenue grew by about 2% to ₹3,695 crore during the reported quarter, the company said. The shares of Bharti Infratel ended 2% higher on Thursday. JSW Steel, Yes Bank, ICICI Lombard, Persistent Systems, Sudarshan Chemicals and IDBI Bank among others JSW Steel, Yes Bank, ICICI Lombard, Persistent Systems, Sudarshan Chemicals and IDBI Bank are the companies among others that are slated to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/gileads-remdesivir-just-got-the-first-fda-approval-to-be-used-as-a-treatment-for-coronavirus-patients/articleshow/78818920.cms" data-type="tilCustomLink">Gilead's remdesivir just got the first FDA approval to be used as a treatment for coronavirus patients</a> <a href="https://www.businessinsider.in/tech/news/social-media-will-change-when-users-ask-for-their-cut-from-data-revenue/articleshow/78810738.cms" data-type="tilCustomLink">‘Where’s my cut?’ the question that can revolutionise social media</a> <a href="https://www.businessinsider.in/business/startups/news/paytm-uses-jeff-bezos-secret-for-success-building-two-pizza-teams/articleshow/78810520.cms" data-type="tilCustomLink">EXCLUSIVE: Paytm uses Jeff Bezos' secret for success — building 'two pizza' teams</a>

Top stocks to watch — Cipla, Zydus Cadila, Dr Reddy Laboratories, Tech Mahindra, Avenue Supermarts, Cochin Shipyard, and others

<ul><li>The SGX Nifty was trading 0.64% higher at 7:51 am, indicating a positive start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst positive cues from the Asian markets, the Indian equities are likely to open in green on Monday. The SGX Nifty was trading 0.64% higher at 7:51 am, indicating a positive start for Nifty50. The Hang Seng Index was trading at 1.24% higher at 7:45; even markets in Australia and Shanghai were trading in the green. These are the stocks to watch out for during the trading session on October 16: HDFC Bank India’s largest private sector lender, HDFC Bank, <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-increases-provisions-for-bad-loans-as-impact-of-covid-19-continued-to-bear-down-in-second-quarter/articleshow/78719656.cms">reported an 18.4% year-on-year (y-o-y) </a>growth in profit at ₹7,513.11 crore for the quarter ended September 30. The bank’s net interest income (NII) grew by 16.7% to ₹15,774.4 crore in the quarter and other income, comprising fee and commission, grew 27.9% to reach ₹6,092 crore. The shares of HDFC Bank ended 2.92% higher on Friday. Avenue Supermarts Radhakishan Damani’s Avenue Supermarts retail chain D-Mart reported a 38.5% (Y-o-Y) decline in its consolidated profit for the second quarter. However, the profit grew by five-fold compared to the sequentially quarter amid easing of lockdown restrictions. The revenue during the quarter also fell 11.4% to ₹5,306.2 crore. The shares of Avenue Supermarts ended over 0.52% higher on Friday. Tata Communications Tata Communications posted an around seven-fold jump in its consolidated net profit to ₹384.81 crore for the second quarter ended September 30. The company’s consolidated revenue grew 4.5% to ₹4,477.18 crore during the quarter, the company said in a BSE filing. The shares of Tata Communications ended 5% higher on Friday. Jet Airways Cash-strapped Jet Airways on Saturday approved the resolution plan submitted by London-based Kalrock Capital and UAE-based businessmen Murari Lal Jalan to acquire the airline. The shares of Jet Airways ended 5% higher on Friday. RIL, Airtel and Vodafone-Idea In July, Mukesh Ambani led Reliance Jio added over 2.5 million active subscribers, while its rivals Airtel lost 0.4 million and Vodafone-Idea lost over 3.8 million active users, based on TRAI report. The shares of RIL ended 1.2% lower on Friday, whereas Airtel and Vodafone-Idea closed nearly a percent higher. Britannia Industries, HDFC Life Insurance Company, L&amp;T Technology Services and ACC Britannia Industries, HDFC Life Insurance Company, L&amp;T Technology Services, ACC and few other companies are slated to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/pelosis-office-says-the-latest-coronavirus-stimulus-talk-with-mnuchin-had-encouraging-news-on-testing/articleshow/78734327.cms" data-type="tilCustomLink">Pelosi's office says the latest coronavirus stimulus talk with Mnuchin had 'encouraging news on testing'</a> <a href="https://www.businessinsider.in/defense/news/india-china-militaries-to-hold-eighth-round-of-talks-over-border-dispute/articleshow/78735795.cms" data-type="tilCustomLink">India, China militaries to hold eighth round of talks over border dispute</a>

Top stocks to watch — Avenue Supermarts, Jet Airways, RIL, Airtel, Vodafone-Idea, Tata Communications, HDFC Bank and others

<ul><li><keyword id="2407038" type="PERSON" weightage="20" keywordseo="DMart">DMart</keyword>’s parent company Avenue Supermarts became India’s 11th most valued company. </li><li>However, its fourth quarter earnings could still have taken a hit due to the coronavirus pandemic.</li><li>The company had earlier said that 50% of its stores were not operational during the lockdown.</li></ul>DMart’s share price has climbed by 35.7% since the beginning of the year. However, its fourth quarter earnings could still have taken a hit due to the coronavirus pandemic. Ac<a href="https://economictimes.indiatimes.com/markets/stocks/news/dmart-tanks-5-as-company-says-half-of-stores-non-operational/articleshow/75115970.cms">cording to Prabhudas Lilladher</a>, there will be an estimated 25% sales decline between Jan and March 2020 for DMart, and a 5% decline in the next three months ending June. The growth in profit after tax in March 2021 is likely to be just 12%, according to the report. <div type="image" title="DMART." msid="75883285" hostid="261"></div> The most valued retail stock in India had also pushed its owner <keyword id="6505089" type="UNKNOWN" weightage="20" keywordseo="Radhakishan-Damani">Radhakishan Damani</keyword> to become India’s second richest man. <div type="image" title="Radhakishan Damani" msid="75883263" hostid="261" caption="&amp;lt;p&amp;gt;Radhakishan Damani&amp;lt;/p&amp;gt;"></div> On Thursday (May 21), DMart’s parent company Avenue Supermarts became India’s 11th most valued company. Its market cap stood at ₹1,58,902.37 crore, moving ahead of giants like Maruti, Nestle, HCL Tech. DMart’s bullish growth DMart began with a single store in Mumbai’s Powai in 2002. Today, DMart is present in over 214 locations across Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab and Rajasthan. In the third quarter ending December 2019, DMart had posted a 33% jump in profits, as well as a 24.4% increase in revenue to ₹6,809 crore. If COVID-19 hadn't struck, according to <a href="https://economictimes.indiatimes.com/markets/stocks/news/dmart-on-course-to-being-cash-surplus-how-it-spends-will-be-key/articleshow/73220765.cms">reports</a>, DMart would have ended FY20 with almost no debt. Covid19 strategy With the coronavirus pandemic, DMart was quick to implement multiple strategies to stay afloat. Being in the essentials category, DMart pushed its limitations and decided to stay open 24*7 since April 1. It began to deliver essentials at home by tying up with RWAs and taking in orders through WhatsApp. But that might not be enough. “However the sales from these channels are inconsequential,” said the company. The company also said that 50% of its stores were not operational during the lockdown. Its sales would also be impacted as the coronavirus pandemic kept people away from physically visiting stores while sales in its non-essentials category came to a standstill. See Also: <a href="https://www.businessinsider.in/business/news/reliance-strikes-5th-deal-sells-2-32-pc-in-jio-platforms-for-rs-11367-cr-to-kkr/articleshow/75881643.cms">Reliance strikes 5th deal, sells 2.32% in Jio Platforms for ₹11,367 cr to KKR</a> <a href="https://www.businessinsider.in/business/news/future-retail-promoter-kishore-biyani-net-worth-falls-sharply-as-debt-rises/articleshow/75861065.cms">Once India’s ‘retail king’, Future Retail promoter Kishore Biyani is straddling high debt, coronavirus and negative ratings⁠⁠— and nearly his entire stake is already pledged</a>

DMart's quarterly sales may fall 25% but the shares are already up 35% ⁠— the retailer is now bigger than Maruti, Nestle and HCL Tech

If someone asks you to guess the most profitable retail chain in India, names like Future Retail and Reliance Retail are bound to come to mind; however, the reality is far from this. 
 The retail chain whose earnings exceed all these private chains is the <keyword id="6395044" type="ORGANIZATION" weightage="100" keywordseo="Canteen-Stores-Department">Canteen Stores Department</keyword> (<keyword id="46784" type="ORGANIZATION" weightage="100" keywordseo="csd">CSD</keyword>), a not-for-profit organisation. As per a Right to Information query, during FY 2014-15, CSD earned Rs 236 crore, more than Rs 211 crore, the profits of Avenue Supermart, which runs D'Mart stores, and other popular chains like Future Retail (Rs 153 crore) and Reliance Retail (Rs 159 crore). 
 
Talking of sales, CSD had Rs 13,709 crore as revenue, selling 5,300 products, ranging from biscuits and beer to shampoos and cars from across its stores. The number of customers it has goes as high as 12 million, including army, navy and air force personnel, ex-servicemen and their families. 
 
CSD was started in 1948, and is managed by the defence ministry. The department runs 3,901 canteens and 34 depots, with more than 600 suppliers. 
 
"CSD is definitely a critical channel. While we are not as focussed as we should be, there is a lot to be done to increase its contribution to our overall sales," Krishna Rao, deputy marketing manager at Parle Products told ET. "They expect a higher margin so they can pass on the benefit to the end-consumer." 
 
The reason behind these high revenues could be low-priced products, possible because of the government letting go of a substantial amount of taxes. 
 
<a href="http://www.dsoipalamvihar.co.in/images/csd_grocery2.jpg">Image source</a>

The most profitable retail chain in India is a not for profit organisation

<keyword id="363206" type="COMPANY" weightage="20" keywordseo="Airtel-Africa">Airtel Africa</keyword> on Friday reported a fall of 8.8 per cent in its net profit on a year on year (YoY) basis at $88 million for the quarter ended September. The company's revenue for the period under review was $965 million compared with $844 million earned during the July-September quarter of the last financial year. In a statement, the company said that its <keyword id="445843" type="PERSON" weightage="20" keywordseo="customer-base">customer base</keyword> grew by 12.0 per cent to $116.4 million during the quarter. <keyword id="702372" type="PERSON" weightage="20" keywordseo="Raghunath-Mandava">Raghunath Mandava</keyword>, CEO of <keyword id="15491" type="DOMAIN" weightage="20" keywordseo="Airtel">Airtel</keyword> Africa, said: "The first half of our fiscal year included the peak impact of the COVID-19 pandemic in the countries where we operate in, as <keyword id="8960115" type="UNKNOWN" weightage="20" keywordseo="lockdown-measures">lockdown measures</keyword> were swiftly implemented to stem the initial spread of the contagion." He noted that in these unprecedented times, the telecom industry has emerged as a key and essential service for these economies, allowing customers to work remotely, reduce their travels, keep them connected, and allow access to affordable entertainment. "In these exceptional circumstances, in the first half, we delivered a strong set of results and as lockdown restrictions eased during Q2 our performance continued to improve with constant currency revenue growth of 19.6 per cent, up 6.6 per cent from the prior quarter," the CEO said. SEE ALSO: <a href="https://www.businessinsider.in/india/news/trump-calls-india-china-and-russia-filthy-while-justifying-exit-from-paris-agreement/articleshow/78821267.cms" data-type="tilCustomLink">Trump calls India, China and Russia ‘filthy’ while justifying exit from Paris Agreement</a> <a href="https://www.businessinsider.in/science/health/news/gileads-remdesivir-just-got-the-first-fda-approval-to-be-used-as-a-treatment-for-coronavirus-patients/articleshow/78818920.cms" data-type="tilCustomLink">Gilead's remdesivir just got the first FDA approval to be used as a treatment for coronavirus patients</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-cipla-zydus-cadila-dr-reddy-laboratories-tech-mahindra-avenue-supermarts-cochin-shipyard-and-others/articleshow/78820314.cms" data-type="tilCustomLink">Top stocks to watch — Cipla, Zydus Cadila, Dr Reddy Laboratories, Tech Mahindra, Avenue Supermarts, Cochin Shipyard, and others</a>

Airtel Africa Q2 net profit slumps 9% amid coronavirus woes

<ul><li>While the fourth-quarter earnings looked strong, the forecast is for a sharp fall in profitability. </li><li>Analysts have cut earnings estimates after the management said that the sales in April were down 45%.</li><li>The margin may shrink further as the both the demand and supply of non-essentials take a hit while costs rise due to rising safety needs.</li></ul><keyword id="6505089" type="UNKNOWN" weightage="20" keywordseo="Radhakishan-Damani">Radhakishan Damani</keyword> became India's second richest man as his company <keyword id="6410316" type="UNKNOWN" weightage="20" keywordseo="avenue-supermarts">Avenue Supermarts</keyword>, which operates the <keyword id="2407038" type="PERSON" weightage="20" keywordseo="DMart">DMart</keyword> chain of department stores, became the 11th most valuable company in India and the top retail stock in the country. But the COVID-19 crisis may take a lot of that sheen away, at least the management believes so, which is why the stock price fell a sharp 5% on Tuesday (May 26). <div type="image" title="dmart share price may 26." msid="75991916" hostid="261"></div> In the fourth quarter of the last financial year, DMart reported a 26% growth in revenue to ₹6255.93 crore and a 41.6% jump in profit to ₹271.28 crore, both compared to the same time last year. However, the impact of the coronavirus pandemic accounted for less than a half a month⁠— the revenue growth in March was still 11% ⁠— but that was enough to drag the profit below the ₹381 crore in the preceding three months. <div type="image" title="DMart profits." msid="75991922" hostid="261"></div> Since the beginning of the new financial year, the revenue was down by 45% in April and things could get worse. “Significantly large EBITDA declines are to be expected due to lower sales, lower gross margins, higher cost of operations on account of hardship allowance to front line staff during lockdown and higher personal hygiene/store sanitation costs,” said the company. EBITDA stands for earnings before interest, tax, depreciation, and amortisation and it is a metric to measure the strength of a company’s core business. DMart’s biggest pull for the customers are its discounts, especially for daily essentials. Where the company makes money is in the discretionary products like apparel and they aren’t allowed to be sold yet, in most parts of the country where the company operates. With lockdown 4.0, the company has started selling non-essentials in about one in every three of its stores. However, even from a customer’s point of view, the demand for non-essentials is currently only “need based”. Therefore, analysts from Prabhudas Lilladher have cut the FY21 and FY22 earnings per share estimate for DMart by 16.8% and 8.1% respectively. What’s worse for the company, the costs are rising due to rising sanitisation and safety requirements. While it added 18 new stores in the last quarter, new store openings hereon will be affected due as construction activities have come to a halt. See Also: <a href="https://www.businessinsider.in/business/corporates/news/dabur-fourth-quarter-results-and-share-price-chart/articleshow/75991489.cms?upcache=2">Dabur Chyawanprash was in the minds of immunity-seeking Indians amid COVID-19 lockdown⁠— the earnings will show if they bought enough of it</a>

You Searched For "avenue supermarts earning" and got 7 results

Top stock movers — Tata Motors, SBI Cards, Cochin Shipyard, Zydus Cadila, Cipla, Dr Reddy’s, MphasiS, and others

Navdeep Yadav

Top stocks to watch — Cipla, Zydus Cadila, Dr Reddy Laboratories, Tech Mahindra, Avenue Supermarts, Cochin Shipyard, and others

Navdeep Yadav

Top stocks to watch — Avenue Supermarts, Jet Airways, RIL, Airtel, Vodafone-Idea, Tata Communications, HDFC Bank and others

Navdeep Yadav

DMart's quarterly sales may fall 25% but the shares are already up 35% ⁠— the retailer is now bigger than Maruti, Nestle and HCL Tech

Sanchita Dash

The most profitable retail chain in India is a not for profit organisation

BI India Bureau

Airtel Africa Q2 net profit slumps 9% amid coronavirus woes

IANS

DMart’s management painted a scary picture of the next few quarters ⁠— the shares of Radhakishan Damani’s company fell 5%

Sanchita Dash

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