Avenue Supermart will be reporting its Q2 earnings on October 17. The street is expecting 11 percent decline in the company’s topline. The decline In operating profit as well as net profit is expected to be a lot sharper.
The company had said that although sales have recovered to about 80 percent of pre-COVID levels in July, the sales of non-essential products are still not good enough. So analysts are penciling in a decline in operating profit.
Even though 95 percent of stores have resumed operations, the lockdown measures have impacted the working hours. This is likely to impact operational performance.Watch video for more