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Business News/ Companies / Company Results/  Agro Tech Foods Q2 FY24 results: profit falls by 37.87% YOY
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Agro Tech Foods Q2 FY24 results: profit falls by 37.87% YOY

Agro Tech Foods Q2 FY24 results: Revenue decreased by 14.96% YoY & profit decreased by 37.87% YoY

Agro Tech Foods Q2 FY24 ResultsPremium
Agro Tech Foods Q2 FY24 Results

Agro Tech Foods, a leading food company, announced its financial results for the second quarter of fiscal year 2024 on 19 Oct, 2023. The company reported a decrease in revenue by 14.96% and a decrease in profit by 37.87% compared to the same quarter last year.

In comparison to the previous quarter, Agro Tech Foods witnessed a growth in revenue by 7.35%, but a significant decrease in profit by 58.81%.

One of the key factors contributing to the decrease in profit was the rise in Selling, General & Administrative expenses, which increased by 25.5% compared to the previous quarter and 18.46% compared to the same quarter last year.

Additionally, the operating income of Agro Tech Foods also saw a decline of 47.67% compared to the previous quarter and 34.08% compared to the same quarter last year.

The earnings per share (EPS) for the second quarter of fiscal year 2024 stood at 0.77, showing a decrease of 38.89% compared to the same quarter last year.

In terms of market performance, Agro Tech Foods delivered a return of 2.8% in the last 1 week, 1.2% in the last 6 months, and 0.87% year-to-date (YTD).

As of 22 Oct, 2023, the company has a market capitalization of 2050.27 Cr and its 52-week high and low are 969.8 and 734.8 respectively.

According to the ratings from analysts, out of 1 analyst covering the company, 1 analyst has given a Hold rating.

The consensus recommendation as of 22 Oct, 2023, was to Hold the stock.

Agro Tech Foods Financials

PeriodQ2 FY24Q1 FY24Q-o-Q GrowthQ2 FY23Y-o-Y Growth
Total Revenue201.11187.34+7.35%236.5-14.96%
Selling/ General/ Admin Expenses Total26.8221.37+25.5%22.64+18.46%
Depreciation/ Amortization5.345.23+2.1%5.56-3.96%
Total Operating Expense197.86181.13+9.24%231.57-14.56%
Operating Income3.256.21-47.67%4.93-34.08%
Net Income Before Taxes2.526.18-59.22%4.08-38.24%
Net Income1.874.54-58.81%3.01-37.87%
Diluted Normalized EPS0.771.87-58.82%1.26-38.89%

FAQs

Question : What is the Q2 FY24 profit/Loss as per company?

Ans : ₹1.87Cr

Question : What is Q2 FY24 revenue?

Ans : ₹201.11Cr

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Published: 22 Oct 2023, 02:53 AM IST
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