Finolex Cables Q2 Results Live: Profit Falls by 23.54% YOY
Finolex Cables Q2 Results Live: Revenue increased by 10.47% YoY & profit decreased by 23.54% YoY
Finolex Cables Q2 Results Live : Finolex Cables declared their Q2 results on 12 Nov, 2024, reporting a topline increase of 10.47% year-over-year, although the profit experienced a significant drop of 23.54% compared to the same quarter last year.
In comparison to the previous quarter, Finolex Cables saw a revenue growth of 6.6%, but the profit decreased sharply by 51.67%. This raises concerns about the company's profitability amidst rising operational costs.
The company's Selling, General & Administrative expenses rose by 3.87% quarter-over-quarter and increased by 11.41% year-over-year, indicating that the company is facing higher costs which may be impacting their bottom line.
Operating income also took a hit, down by 18.93% on a quarter-over-quarter basis and decreasing by 30.41% year-over-year, highlighting ongoing challenges in maintaining operational efficiency.
Earnings per share (EPS) for Q2 stood at ₹7.71, which reflects a decrease of 23.51% year-over-year, suggesting that shareholders may need to adjust their expectations moving forward.
In terms of stock performance, Finolex Cables has delivered a -5.22% return over the past week, though it has achieved an 11.89% return in the last six months and a 7.01% return year-to-date.
As of now, the company holds a market capitalization of ₹17,497.03 Cr, with its 52-week high and low recorded at ₹1,700 and ₹831.25, respectively, indicating some volatility in its stock price.
As of 13 Nov, 2024, out of six analysts covering the company, one has assigned a Hold rating, two have given Buy ratings, and three have rated it as Strong Buy, reflecting a generally positive outlook despite current profit concerns.
The consensus recommendation as of 13 Nov, 2024, is to Strong Buy, suggesting that analysts believe the company's stock may present a good investment opportunity going forward.
Finolex Cables Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 1311.72 | 1230.48 | +6.6% | 1187.44 | +10.47% |
| Selling/ General/ Admin Expenses Total | 47.46 | 45.69 | +3.87% | 42.6 | +11.41% |
| Depreciation/ Amortization | 11.75 | 10.71 | +9.71% | 10.84 | +8.39% |
| Total Operating Expense | 1217.59 | 1114.37 | +9.26% | 1052.18 | +15.72% |
| Operating Income | 94.13 | 116.11 | -18.93% | 135.26 | -30.41% |
| Net Income Before Taxes | 150.68 | 317.75 | -52.58% | 206.46 | -27.02% |
| Net Income | 117.89 | 243.92 | -51.67% | 154.18 | -23.54% |
| Diluted Normalized EPS | 7.71 | 15.95 | -51.66% | 10.08 | -23.51% |
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First Published:13 Nov 2024, 11:40 AM IST
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