Shares in Avenues Supermarks Limited (DMART) which own one of the largest super market chain in India, has fallen heavily on Monday. The steep fall in share price is on account of the company’s disappointing results in the Dec quarter (Q3).

The company announced its Q3 results on Saturday and recorded its earnings before interest, tax, depreciation and amortization (Ebitda) margin falling by a considerable 200 bps, over the Y-o-Y to 8.3%, while operating profit was up 7.5 percent at Rs 453.4 crore.

Reacting the tepid results, shares in Avenue Supermarts Ltd were trading at Rs 1428 apiece, down 9.14 percent from the last close, after touching an intraday low of Rs 1416 and an intraday high of Rs 1473 per share on the NSE, around 1.40 pm, Monday. Meantime, key benchmark Sensex falls heavily by 239 points and the Sensex lower by 81 points at 10713-levels in trade.