 "D-Mart hits six-month low as Q3 margins drop to 8.34% due to weak demand")
BENGALURU (Reuters) - Shares of India's Avenue Supermarts Ltd, which operates the D-Mart retail chain, fell to a six-month low on Monday after the company reported that quarterly core profit margins shrunk due to weak demand.
The company said its earnings before interest, taxes, depreciation and amortization (EBITDA) margins fell to 8.34% in the third quarter from 9.39% a year earlier.
It said the decline mainly reflected a change in product mix and weaker-than-expected discretionary non-FMCG sales.
Avenue Supermarts's shares fell as much as 5.13% to 3,665.50 rupees on Monday.
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza)
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