Avonmore Capital & Manag Service Q2 Results 2024: Profit Rises by 267.73% YoY

Avonmore Capital & Manag Service Q2 Results 2024:Avonmore Capital & Manag Service declared their Q2 results on 14 Nov, 2024, showcasing a significant growth in financial performance. The company's topline increased by 25.32% year-over-year, leading to a profit boost of 267.73%, with profit standing at ₹17.32 crore and revenue at ₹54.29 crore.

In comparison to the previous quarter, Avonmore experienced remarkable growth, with revenue climbing by 54.76% and profit increasing by 195.56%. This upward trend highlights the company's robust operational efficiency and market positioning.

The selling, general, and administrative expenses saw a rise of 13.33% quarter-over-quarter; however, there was a notable decrease of 18.7% year-over-year. This indicates effective cost management practices implemented by the company.

Moreover, the operating income surged by an impressive 310.41% quarter-over-quarter and saw an astounding increase of 531.12% year-over-year, reflecting strong operational performance and strategic growth initiatives.

The earnings per share (EPS) for Q2 was reported at ₹0.74, which represents a decline of 64.49% year-over-year, suggesting pressures on profitability margins despite the overall profit growth.

In the stock market, Avonmore Capital & Manag Service has faced a challenging week, delivering a return of -14.54% over the last week. However, the company has shown resilience with a return of 5.34% over the last six months and a notable 69.86% year-to-date return.

As of the latest reports, Avonmore Capital & Manag Service holds a market capitalization of ₹322.51 crore, with a 52-week high of ₹18.09 and a low of ₹7.51, indicating significant volatility and investor interest in the stock.

Disclaimer: This is an AI-generated live blog and has not been edited by LiveMint staff.