Shares of billionaire investor Radhakrishnan Damani-promoted Avenue Supermarts fell as much as 9.5% to Rs 1422.15 on Monday, their lowest since November 28, after the company reported a decline in its EBITDA margins for the December quarter. Avenue Supermarts, which runs the D-Mart supermarket chain, announced its Q3 results Saturday and registered its EBITDA (earnings before interest, tax, depreciation and amortization) margin slipping by a substantial 200 basis points over the year-ago period to 8.3%. Operating profit or EBITDA was up 7.5% at Rs 453.4 crore. At 10:20 AM (IST), shares of Avenue Supermarts were trading at Rs 1448 per share, down 7.68% from the previous close, after touching an intraday low of Rs 1423 and an intraday high of Rs 1474 per share on BSE. The company posted an increase of 2.1% in its net profit to Rs 257 crore for the December quarter as against Rs 252 crore in the same period a year ago. Revenue of the company increased by 33% to Rs 5,451 crore in the quarter, as against Rs 4,093.9 crore in the same period last financial year. ALSO READ:\u00a0Share market LIVE updates: Sensex down 120 points; Nifty above 10,800; Infosys up 4%; D-mart plunges 9% Taking stock of the reported earnings, six of 17 brokerages have rated the stock "buy" or higher, one "hold" and 10 brokerages "sell" or lower; their median price target is Rs 1,280, Reuters reported. Citi said it has cut the price target to Rs 1,190 from Rs 1,255, following the subdued trend with continuing disappointment. "Maintain sell at current valuations; incrementally more challenging store economics and long-term eCommerce impact are key issues," it said. According to global brokerage firm Jefferies, the strong execution and focus on market share gains gives confidence on top line, while margin expansion will be slow. The trajectory of earnings growth may taper down, it feels. The firm has a share price target of Rs 1,420 on the stock.