Adhbhut Infrastructure Q2 FY24 results: profit rise by 1423.85% YOY

Adhbhut Infrastructure, a leading infrastructure company, has announced its financial results for the second quarter of FY24. The company reported a significant increase in both revenue and profit compared to the same period last year.

According to the financial report, Adhbhut Infrastructure's revenue for Q2 FY24 increased by an impressive 123.24% compared to the previous year. This growth can be attributed to the successful execution of various projects and an increase in demand for the company's services.

The company's profit also saw a remarkable surge, rising by 1423.85% year on year. This exceptional performance can be attributed to effective cost management strategies and improved operational efficiencies.

However, when compared to the previous quarter, the company witnessed a decline in both revenue and profit. The revenue declined by 54.63% and the profit decreased by 72.75%. This decline can be attributed to seasonal factors and specific project delays.

Adhbhut Infrastructure also reported an increase in selling, general, and administrative expenses. These expenses rose by 0.33% quarter on quarter and increased by 66.3% year on year. The company has been investing in expanding its market presence and enhancing its operational capabilities.

The operating income of Adhbhut Infrastructure was down by 66.56% quarter on quarter, but it increased by a significant 584.52% year on year. This indicates that the company has been able to achieve higher profitability despite facing challenges in the current economic environment.

The earnings per share (EPS) for Q2 FY24 stood at ₹0.15, which represents a remarkable increase of 1400% year on year. This indicates that the company has been able to generate higher earnings for its shareholders.

In terms of stock performance, Adhbhut Infrastructure has delivered negative returns in the short term. The company has witnessed a -22.6% return in the last 1 week, -29.63% return in the last 6 months, and -37.3% year-to-date return. This decline in stock price can be attributed to various market factors and investor sentiment.

Adhbhut Infrastructure currently has a market capitalization of ₹240.35 Cr and its 52-week high and low are ₹363.8 and ₹188.7 respectively. The company's financial performance and market position indicate its potential for future growth and profitability.