NEW DELHI: Avenue Supermarts' promoter Radhakishan Damani on Thursday sold 50 lakh shares in the company via block deal, news reports said.Damani had earlier announced that he will sell up to 1 per cent stake by June 14 to meet Minimum Public Shareholding (MPS) norms.Both DIIs and FIIs likely to have bought Avenue Supermarts shares in the block deal.At 12:26 pm, shares of the D-Mart's parent company were trading at Rs 1,416.95 apiece on BSE.On May 18, shares of the company witnessed its second biggest drop since listing in March 2017 after the reports emerged that Radhakishan Damani will sell some stake in the company.The promoter and promoter group held 82.20 per cent stake in the company as of March 31, 2018.Avenue Supermarts (D-Mart) reported 72.9 per cent year-on-year (YoY) rise in net profit at Rs 167 crore for March quarter.The food and grocery retailer had reported Rs 97 crore profit in the year-ago quarter.
Total revenue for the quarter came in at Rs 3,810 crore, up 22.5 per cent YoY.
The company had clocked Rs 3,111 crore sales in the same period last year.Ebitda for the quarter rose to Rs 294 crore in March quarter from Rs 208 crore in the corresponding quarter of last year.
Ebitda margin improved to 7.7 per cent from 6.7 per cent in the year-ago quarter.