Orient Cement Q2 Results Live: Profit Falls by 90.56% YOY
Orient Cement Q2 Results Live: Revenue decreased by 24.5% YoY & profit decreased by 90.56% YoY.
Orient Cement Q2 Results Live : Orient Cement has declared its Q2 results on November 8, 2024, revealing a significant downturn in both revenue and profits. The company's topline decreased by 24.5% year-over-year, and profits fell dramatically by 90.56%. Compared to the previous quarter, revenue declined by 21.87%, while profit decreased by 93.67%.
The company's Selling, General, and Administrative (SG&A) expenses showed a slight improvement, declining by 15.63% quarter-on-quarter and 13.91% year-over-year. However, this reduction was overshadowed by the sharp decline in operating income, which was down by 91.1% quarter-on-quarter and 89.65% year-over-year.
Earnings per share (EPS) for Q2 stood at ₹0.11, marking a staggering decrease of 90.83% year-over-year. This disappointing performance has prompted mixed reactions from analysts, with 3 out of 7 covering analysts giving a Strong Sell rating, 1 analyst recommending a Sell, 1 advising Hold, 1 suggesting Buy, and 1 giving a Strong Buy rating.
Despite recent challenges, Orient Cement has shown resilience with a -2.06% return in the last week, a notable 57.25% return over the last 6 months, and a 35.64% year-to-date return. Currently, the company's market capitalization stands at ₹6,977.83 Crore, with a 52-week high of ₹379 and a low of ₹182.
As of November 9, 2024, the consensus recommendation among analysts is to Sell, reflecting cautious sentiment regarding the company's future performance amidst the stark decline in profitability and revenue.
Orient Cement Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 544.03 | 696.27 | -21.87% | 720.58 | -24.5% |
| Selling/ General/ Admin Expenses Total | 204.87 | 242.82 | -15.63% | 237.98 | -13.91% |
| Depreciation/ Amortization | 39.09 | 38.56 | +1.38% | 37.13 | +5.28% |
| Total Operating Expense | 538.91 | 638.84 | -15.64% | 671.17 | -19.71% |
| Operating Income | 5.11 | 57.43 | -91.1% | 49.4 | -89.65% |
| Net Income Before Taxes | 3.12 | 57.92 | -94.61% | 42.43 | -92.64% |
| Net Income | 2.32 | 36.71 | -93.67% | 24.63 | -90.56% |
| Diluted Normalized EPS | 0.11 | 1.79 | -93.85% | 1.2 | -90.83% |
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First Published:9 Nov 2024, 11:37 AM IST
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