Goodyear India Q2 Results Live: Profit Falls by 58.51% YOY

Goodyear India Q2 Results Live : Goodyear India declared its Q2 results on 22 Oct, 2024, revealing a concerning trend as the company's topline decreased by 1.14% year-over-year, while profit plummeted by a staggering 58.51%.

Comparing the results to the previous quarter, the decline becomes more pronounced, with revenue down 1.32% and profit decreasing by 37.12%. This consistent decline raises questions about the company's operational efficiency.

The financial report also highlighted an increase in selling, general, and administrative expenses, which rose by 0.75% quarter-over-quarter and 10.86% year-over-year, indicating rising operational costs that could be impacting profitability.

Operating income saw a significant drop as well, down 43.52% quarter-over-quarter and 63.72% year-over-year, painting a bleak picture for the company’s financial health moving forward.

The earnings per share (EPS) for Q2 stands at ₹6.82, reflecting a decline of 58.54% year-over-year, further signaling challenges in maintaining profitability.

In the broader market context, Goodyear India has faced a challenging period, reporting a -5.01% return in the last week, -9.85% return over the past six months, and a -17.9% return year-to-date.

Currently, Goodyear India holds a market capitalization of ₹2438.24 crore, with its stock trading between a 52-week high of ₹1412.44 and a low of ₹1030, highlighting the volatility in investor sentiment.