Virinchi Q2 FY24 results: profit at ₹1.52Cr, Revenue decreased by 8.24% YoY
Virinchi Q2 FY24 results: Revenue decreased by 8.24% YoY & profit at ₹1.52Cr
Virinchi, a leading company in the industry, has declared their Q2 FY24 results on 13 Nov, 2023. The company's revenue decreased by 8.24% compared to the same period last year, amounting to ₹1.52Crore in profit. This is a significant improvement from the loss of ₹3.48Crore in the previous fiscal year's same period.
In comparison to the previous quarter, Virinchi's revenue declined by 9.71%. However, the company managed to decrease its selling, general, and administrative expenses by 0.95% quarter-on-quarter and 3.97% year-on-year.
The operating income of Virinchi also experienced a significant decline of 38.65% quarter-on-quarter. However, it increased by an impressive 136.08% year-on-year, indicating a positive trend for the company's overall financial performance.
The earnings per share (EPS) for Q2 FY24 is ₹0.14, marking a substantial increase of 132.56% year-on-year. This further reflects the company's growth and profitability.
Currently, Virinchi has a market capitalization of ₹305.9 Crore and a 52-week high/low of ₹53.7 and ₹30.3 respectively. With their Q2 FY24 results showing improved profitability and a slight decline in expenses, Virinchi is poised for future success in the industry.
Virinchi Financials
| Period | Q2 FY24 | Q1 FY24 | Q-o-Q Growth | Q2 FY23 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 72.5 | 80.3 | -9.71% | 79.01 | -8.24% |
| Selling/ General/ Admin Expenses Total | 46.8 | 47.25 | -0.95% | 48.73 | -3.97% |
| Depreciation/ Amortization | 12.86 | 14.82 | -13.26% | 19 | -32.33% |
| Total Operating Expense | 63.26 | 65.23 | -3.03% | 75.1 | -15.77% |
| Operating Income | 9.25 | 15.07 | -38.65% | 3.92 | +136.08% |
| Net Income Before Taxes | 0.15 | 3.89 | -96.18% | -2.29 | +106.49% |
| Net Income | 1.52 | 4.46 | -65.85% | -3.48 | +143.75% |
| Diluted Normalized EPS | 0.14 | 0.51 | -72.55% | -0.43 | +132.56% |
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.
Wait for it…
Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.