IKIO Lighting Q1 Results Live: Profit Falls by 10.67% YoY

IKIO Lighting Q1 Results Live : IKIO Lighting has announced its Q1 results for the fiscal year 2024 on 09 August. The company reported a revenue increase of 17.24% year-over-year (YoY). However, the profit saw a decline of 10.67% YoY. When compared to the previous quarter, revenue grew significantly by 34.02%, and profit increased by 29.91%.

The company's Selling, General & Administrative (SG&A) expenses witnessed a notable rise. On a quarter-over-quarter (q-o-q) basis, these expenses surged by 27.81%, while on a year-over-year (YoY) basis, the increase was even more substantial at 46.2%.

Operating income for IKIO Lighting also faced a downward trend. It decreased by 7.83% q-o-q and by a significant 41.85% YoY. This decline in operating income has contributed to the overall reduction in profitability for the company.

The Earnings Per Share (EPS) for Q1 stood at ₹1.6, showing a decrease of 10.71% YoY. This drop in EPS reflects the challenges IKIO Lighting faced in maintaining its profitability amidst rising expenses.

In terms of stock performance, IKIO Lighting has delivered a return of -6.11% over the past week. Over the last six months, the return has been -9.97%, and the year-to-date (YTD) return stands at -5.59%. These figures indicate a challenging period for the company's stock performance.

Currently, IKIO Lighting boasts a market capitalization of ₹2322.67 crore. The company's 52-week high and low are ₹394.1 and ₹245.45, respectively. This range highlights the volatility the stock has experienced over the past year.