Why did DMart shares crash 8% today?

DMart operator Avenue Supermarts' shares crashed 8% to ₹4,210.55 on the NSE as Q2 results disappointed brokerages. The company's revenue grew 14.4% YoY to ₹14,444.50 crore, the slowest in four years. Net profit stood at ₹659 crore, below the ₹812 crore estimate by Bloomberg-tracked analysts. The company noted that online grocery format players and high employee costs impacted Q2 earnings.

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