Rane Madras Q2 results: loss at ₹0.68Cr, Revenue decreased by 13.45% YoY

Rane Madras Q2 Results Live : Rane Madras declared its Q2 results on October 24, 2024, revealing a challenging quarter for the company. The topline revenue decreased by 13.45% year-over-year, resulting in a loss of ₹0.68 crore. This marks a significant shift from the previous fiscal year, where the company reported a profit of ₹17.77 crore during the same period.

Despite the year-over-year decline, Rane Madras saw a slight improvement in revenue compared to the previous quarter, with a growth of 1.34%. This indicates some resilience amid the overall downturn in revenue performance.

The company's selling, general, and administrative expenses experienced a decline of 0.64% quarter-over-quarter and a substantial decrease of 26.37% year-over-year, reflecting efforts to control costs amidst falling revenues.

Operating income, however, faced challenges, decreasing by 25.72% quarter-over-quarter, although it showed an impressive increase of 118.46% year-over-year, signaling some operational recovery relative to the prior year.

Rane Madras reported an earnings per share (EPS) of ₹-0.38 for Q2, a significant decrease of 100.84% year-over-year, highlighting the impact of the current financial struggles on shareholder returns.

In terms of market performance, Rane Madras has delivered a -11.46% return over the last week, while showing a 12.59% return over the past six months and a 15.87% year-to-date return. Currently, the company holds a market capitalization of ₹1542.92 crore, with a 52-week high of ₹1529 and a low of ₹631.