Raymond Q2 Results Live: Profit Falls by 62.43% YoY
Raymond Q2 Results Live: Revenue decreased by 53.64% YoY & profit decreased by 62.43% YoY
Raymond Q2 Results Live : Raymond declared their Q2 results on 04 Nov, 2024, revealing a significant decline in financial performance. The company's topline decreased by 53.64% year-over-year, while profit fell sharply by 62.43% during the same period. Compared to the previous quarter, revenue showed a slight recovery, growing by 11.42%, though profit experienced a staggering decrease of 99.19%.
The selling, general, and administrative expenses saw a quarter-over-quarter increase of 6.51%, but a notable decrease of 54.95% year-over-year. Despite the overall downturn, operating income improved by 22.56% compared to the last quarter, although it still represented a substantial decline of 66.48% year-over-year.
Earnings per share (EPS) for Q2 stood at ₹9.01, reflecting a decrease of 66.18% year-over-year. This significant drop in profitability raises concerns among investors about the company's operational efficiency and market position.
Despite the challenging quarter, Raymond has shown resilience in its stock performance, delivering a return of 7.65% over the past week, 27.46% over the last six months, and an impressive 62.14% year-to-date return. The company's current market capitalization stands at ₹11,229.22 Cr, with a 52-week high of ₹2,380 and a low of ₹898.38.
As of 05 Nov, 2024, analysts remain optimistic about Raymond's potential. Out of the three analysts covering the company, one has given a Hold rating while two have assigned a Strong Buy rating. The consensus recommendation as of the same date indicates a Strong Buy, suggesting that analysts believe the company's stock may rebound in the near future.
Raymond Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 1044.74 | 937.65 | +11.42% | 2253.4 | -53.64% |
| Selling/ General/ Admin Expenses Total | 127.86 | 120.05 | +6.51% | 283.82 | -54.95% |
| Depreciation/ Amortization | 40.19 | 39.39 | +2.03% | 65.37 | -38.52% |
| Total Operating Expense | 968.89 | 875.76 | +10.63% | 2027.14 | -52.2% |
| Operating Income | 75.85 | 61.89 | +22.56% | 226.26 | -66.48% |
| Net Income Before Taxes | 88.98 | 78.59 | +13.22% | 211.89 | -58.01% |
| Net Income | 60.03 | 7366.46 | -99.19% | 159.78 | -62.43% |
| Diluted Normalized EPS | 9.01 | 8.46 | +6.55% | 26.64 | -66.18% |
Stay updated on quarterly results with our results calendar
Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
MoreLess
FAQs
₹60.03Cr
₹1044.74Cr
First Published:5 Nov 2024, 11:58 AM IST
- Top Gainers
- Top Losers
- 52 Week High