Tata Technologies Q2 Results Live : Tata Technologies declared their Q2 results on 28 Oct, 2024, revealing a mixed financial performance. The company reported a topline increase of 2.15% year-over-year, while profits saw a decline of 1.85%. This trend reflects a challenging market environment for the technology solutions provider.
When compared to the previous quarter, Tata Technologies experienced a revenue growth of 2.17%, yet profit dropped by 2.85%. This suggests that while sales are improving, the costs associated with generating that revenue may be impacting overall profitability.
Examining the company’s expenses, Selling, General & Administrative (SG&A) expenses rose by 0.85% quarter-over-quarter but showed a decrease of 3.21% year-over-year. This indicates a strategic effort to control costs over a longer period, despite recent increases.
The operating income for the quarter reflected a positive trend, up by 2.12% quarter-over-quarter and increasing significantly by 9.31% year-over-year. This growth in operating income indicates that core operations are performing well, which could be a positive sign for future profitability.
Earnings Per Share (EPS) for Q2 stood at ₹3.87, marking a year-over-year increase of 6.03%. This improvement in EPS suggests that the company is still delivering value to its shareholders despite the profit decline.
In terms of stock performance, Tata Technologies has faced challenges, delivering a -5.06% return in the last week, -6.17% in the last six months, and a significant -15.18% year-to-date return. These figures indicate a turbulent stock performance amidst the broader market dynamics.
Currently, Tata Technologies holds a market cap of ₹40,546.57 Cr, with a 52-week high of ₹1397.82 and a low of ₹970.1. This range indicates substantial volatility in the stock price over the past year.
Market sentiment among analysts is mixed, with 3 out of 10 analysts rating the stock as a Strong Sell, 4 as Sell, and 3 as Strong Buy. This divided opinion reflects uncertainty surrounding the company’s short-term performance and overall market conditions.
Tata Technologies Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 1296.45 | 1268.97 | +2.17% | 1269.17 | +2.15% |
| Selling/ General/ Admin Expenses Total | 710.7 | 704.72 | +0.85% | 734.24 | -3.21% |
| Depreciation/ Amortization | 29.9 | 29.71 | +0.64% | 26.17 | +14.25% |
| Total Operating Expense | 1090.81 | 1067.6 | +2.17% | 1081.05 | +0.9% |
| Operating Income | 205.64 | 201.37 | +2.12% | 188.12 | +9.31% |
| Net Income Before Taxes | 217.48 | 219.64 | -0.98% | 213.28 | +1.97% |
| Net Income | 157.41 | 162.03 | -2.85% | 160.38 | -1.85% |
| Diluted Normalized EPS | 3.87 | 3.99 | -3.01% | 3.65 | +6.03% |
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