Greaves Cotton Q2 Results 2024:Greaves Cotton announced its financial results for the second quarter of 2024 on November 12, revealing a profit of ₹3.22 crore. However, the company’s revenue saw a decline of 2.94% year-on-year, indicating ongoing challenges in the market.
In a notable contrast to the previous fiscal year’s Q2, where Greaves Cotton reported a significant loss of ₹190.78 crore, the current results showcase a recovery, albeit modest. Compared to the previous quarter, the revenue did see a growth of 10.26%, which may suggest a positive trend moving forward.
The company’s selling, general, and administrative expenses have increased sharply by 13.41% quarter-on-quarter and 16.49% year-on-year, raising concerns about cost management and operational efficiency.
Operating income, however, has taken a dramatic hit, down by 720.97% quarter-on-quarter, though it has increased by 98.33% year-on-year. Such volatility raises questions about the sustainability of the current financial strategy.
Earnings per share (EPS) stood at ₹0.26 for Q2, marking a steep decrease of 89.27% year-on-year, highlighting the pressure the company is under in terms of profitability.
In terms of market performance, Greaves Cotton has reported a -16.67% return in the past week, a 19.59% return over the last six months, and a 4.79% return year-to-date. Currently, the company’s market capitalization is ₹3701.8 crore, with a 52-week high of ₹199.44 and a low of ₹112.05.
As Greaves Cotton navigates through these challenging waters, stakeholders will be keenly watching how the company adapts its strategies to improve both revenue and profitability in the upcoming quarters.
Greaves Cotton Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 705.31 | 639.7 | +10.26% | 726.69 | -2.94% |
| Selling/ General/ Admin Expenses Total | 84.55 | 74.55 | +13.41% | 72.58 | +16.49% |
| Depreciation/ Amortization | 26.43 | 26.05 | +1.46% | 19.15 | +38.02% |
| Total Operating Expense | 713.01 | 638.46 | +11.68% | 1188.26 | -40% |
| Operating Income | -7.7 | 1.24 | -720.97% | -461.57 | +98.33% |
| Net Income Before Taxes | 1.81 | 15.26 | -88.14% | -340.52 | +100.53% |
| Net Income | 3.22 | 10.32 | -68.8% | -190.78 | +101.69% |
| Diluted Normalized EPS | 0.26 | 0.44 | -40.56% | 2.44 | -89.27% |
Disclaimer: This is an AI-generated live blog and has not been edited by LiveMint staff.
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