Indoco Remedies Q2 Results Live : Indoco Remedies declared its Q2 results on 24 October 2024, revealing a significant decline in its financial performance. The company reported a topline decrease of 10.19%, resulting in a loss of ₹9.57 crore. This marks a stark contrast to the profit of ₹35.08 crore reported in the same period of the previous fiscal year.
Despite the year-on-year decline, there was a slight recovery compared to the previous quarter, with revenue showing a modest growth of 0.27%. However, the overall performance remains concerning for investors.
The company’s Selling, General & Administrative expenses saw a decrease of 4.5% quarter-on-quarter, but they increased by 0.83% year-on-year. This indicates a mixed picture in cost management.
Operating income experienced a steep decline, down by 43.56% compared to the previous quarter and a staggering 77.12% year-on-year. This substantial drop raises questions about the company’s operational efficiency.
The Earnings Per Share (EPS) stood at ₹-1.09 for Q2, reflecting a decrease of 128.53% year-on-year, which underscores the challenges faced by the company in maintaining profitability.
In terms of stock performance, Indoco Remedies has delivered a -7.57% return over the past week, -2.55% over the last six months, and a significant -20.09% year-to-date return. These figures indicate a troubling trend for shareholders.
As of the latest data, Indoco Remedies boasts a market capitalization of ₹2911.11 crore, with a 52-week trading range between ₹415 and ₹286.6.
Analyst coverage remains cautiously optimistic, with out of three analysts following the company; one has given a Hold rating, another a Buy rating, and one a Strong Buy rating. As of 25 October 2024, the consensus recommendation is to Buy, suggesting potential for recovery.
Indoco Remedies Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 432.66 | 431.49 | +0.27% | 481.73 | -10.19% |
| Selling/ General/ Admin Expenses Total | 92.88 | 97.26 | -4.5% | 92.12 | +0.83% |
| Depreciation/ Amortization | 28.82 | 27.52 | +4.72% | 21.41 | +34.61% |
| Total Operating Expense | 421.23 | 411.24 | +2.43% | 431.77 | -2.44% |
| Operating Income | 11.43 | 20.25 | -43.56% | 49.96 | -77.12% |
| Net Income Before Taxes | -4.84 | 6.97 | -169.44% | 46.28 | -110.46% |
| Net Income | -9.57 | 2.63 | -463.88% | 35.08 | -127.28% |
| Diluted Normalized EPS | -1.09 | 0.2 | -645% | 3.82 | -128.53% |
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