Spandana Sphoorty Financial Q2 results: loss at ₹216.32Cr, Revenue increased by 21.17% YoY
Spandana Sphoorty Financial Q2 results: Revenue increased by 21.17% YoY & loss at ₹216.32Cr
Spandana Sphoorty Financial Q2 Results Live : Spandana Sphoorty Financial announced its Q2 results on October 28, 2024, revealing a notable topline increase of 21.17%. However, the company reported a significant loss of ₹216.32 crore, contrasting sharply with a profit of ₹125.19 crore in the same period last fiscal year.
Despite the year-over-year revenue growth, the company experienced a decline of 4.26% in revenue compared to the previous quarter. This decline has raised concerns among analysts about the company's ability to maintain momentum in a challenging market environment.
Additionally, selling, general, and administrative expenses surged by 13.51% quarter-on-quarter and 36.51% year-on-year, reflecting rising operational costs that have contributed to the financial strain.
The operating income saw a drastic drop, decreasing by 123.8% quarter-on-quarter and 122.91% year-on-year, highlighting the company's struggles to manage its expenses effectively amidst fluctuating revenues.
Earnings per share (EPS) also took a hit, recording ₹16.74 for Q2, a decrease of 37.54% compared to the previous year. This decline in EPS signals to investors a need for strategic reevaluation.
Spandana Sphoorty Financial has had a rocky performance in the stock market, delivering -4.54% returns in the past week, -47.74% over the last six months, and a staggering -59.29% year-to-date.
Currently, the company boasts a market capitalization of ₹3276.12 crore, with a 52-week high of ₹1243.2 and a low of ₹446.95, indicating volatility in its stock price over the year.
As of October 29, 2024, out of seven analysts covering Spandana Sphoorty Financial, two have issued a Buy rating while five have given a Strong Buy rating, reflecting a cautious optimism among industry experts.
The consensus recommendation as of late October 2024 stands at Strong Buy, suggesting that despite the current losses, analysts believe in the company's potential for recovery and growth in the future.
Spandana Sphoorty Financial Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 666.8 | 696.48 | -4.26% | 550.29 | +21.17% |
| Selling/ General/ Admin Expenses Total | 152.87 | 134.68 | +13.51% | 111.99 | +36.51% |
| Depreciation/ Amortization | 5.45 | 4.41 | +23.58% | 4.6 | +18.43% |
| Total Operating Expense | 736.75 | 402.56 | +83.02% | 244.97 | +200.76% |
| Operating Income | -69.95 | 293.92 | -123.8% | 305.33 | -122.91% |
| Net Income Before Taxes | -288.61 | 75.05 | -484.56% | 167.51 | -272.29% |
| Net Income | -216.32 | 55.71 | -488.3% | 125.19 | -272.79% |
| Diluted Normalized EPS | 16.74 | 29.43 | -43.12% | 26.8 | -37.54% |
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Business NewsCompaniesCompany ResultsSpandana Sphoorty Financial Q2 results: loss at ₹216.32Cr, Revenue increased by 21.17% YoY
FAQs
₹-216.32Cr
₹666.8Cr
First Published:29 Oct 2024, 10:57 AM IST
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