NRB Bearings Q1 Results Live : profit rise by 34.39% YOY

NRB Bearings Q1 Results Live : NRB Bearings Q1 Results Live: NRB Bearings declared their Q1 results on 12 Aug, 2024. The topline increased by 6.35% year-over-year (YoY) to ₹3028.35 Cr, reflecting a strong performance in the face of challenging market conditions. The profit for the quarter surged by an impressive 34.39% YoY.

Compared to the previous quarter, the revenue grew by a modest 1.64%, while the profit saw a significant decrease of 20.15%, highlighting the volatility in quarterly earnings.

The company reported a rise in Selling, General & Administrative expenses, which increased by 14.81% quarter-over-quarter (QoQ) and by 7.19% YoY, indicating higher operational costs.

Operating income for the quarter was down by 33.26% QoQ but showed a positive trend with a 5.7% increase YoY, suggesting improved operational efficiency over the last year.

Earnings per Share (EPS) for Q1 stood at ₹2.57, marking a 12.28% increase YoY, indicating better returns for shareholders.

Despite the positive quarterly performance, NRB Bearings has delivered a -0.11% return in the last week, a -9.07% return over the last six months, and a -6.97% Year-To-Date (YTD) return, reflecting mixed investor sentiment.

Currently, NRB Bearings boasts a market cap of ₹3028.35 Cr. The stock has seen a 52-week high of ₹401.55 and a low of ₹213, indicating significant price volatility over the past year.

As of 13 Aug, 2024, out of the 2 analysts covering the company, 1 has given a Buy rating and another has given a Strong Buy rating, reflecting strong analyst confidence.

The consensus recommendation as of 13 Aug, 2024, is to Strong Buy, suggesting that analysts are optimistic about the company's future performance.