Kanishk Steel Industries Q1 Results Live : profit falls by 85.32% YOY

Kanishk Steel Industries Q1 Results Live : Kanishk Steel Industries declared their Q1 results on 13 Aug, 2024. The company's topline saw a significant decrease of 25.95% year-over-year (YoY), alongside a steep decline in profits by 85.32% YoY. In comparison to the previous quarter, revenue declined by 18.2%, while profit interestingly increased by 105.92%.

The Selling, general & administrative expenses (SG&A) showed mixed results, declining by 5.22% quarter-over-quarter (q-o-q) but increasing by a substantial 83.84% YoY. This indicates that while the company has managed to cut back on these expenses in the short term, they have significantly increased compared to the same period last year.

Operating income for Kanishk Steel Industries was up by 107.95% q-o-q, a promising sign of operational efficiency. However, it decreased by 82.94% YoY, highlighting the challenges the company faces when compared to its performance last year.

Earnings per Share (EPS) for Q1 stood at ₹0.07, marking an 86% decrease YoY. This sharp decline in EPS is indicative of the reduced profitability of the company for its shareholders.

Despite the challenging quarterly results, Kanishk Steel Industries has delivered an 8.07% return in the last week. However, the stock has seen a -10.21% return over the last 6 months and a 4.99% Year-To-Date (YTD) return, reflecting mixed investor sentiment.

Currently, Kanishk Steel Industries has a market capitalization of ₹86.82 Cr. The stock's 52-week high stands at ₹43.69, while its 52-week low is ₹25.05, indicating the range within which the stock has traded over the past year.