Canfin Homes Q2 Results Live: Profit Rises by 33.79% YOY

Canfin Homes Q2 Results Live : Canfin Homes declared their Q2 results on 22 Oct, 2024, showcasing a strong performance with a topline increase of 10.5% year-on-year (YoY) and a significant profit rise of 33.79%. Compared to the previous quarter, revenue grew by 3.37%, while profit increased by 5.94%.

Despite the positive outlook, the company's selling, general, and administrative expenses rose sharply, climbing 23.83% quarter-on-quarter (q-o-q) and 15.56% YoY. This increase in expenses could raise concerns about operational efficiency moving forward.

On the operational front, Canfin Homes reported a 7.38% increase in operating income from the previous quarter, marking a remarkable 38.34% YoY growth. This indicates a robust operational performance, even amid rising costs.

The earnings per share (EPS) for Q2 stood at ₹15.88, reflecting a 33.78% increase YoY. This strong EPS growth aligns with the overall positive trend in profit and revenue.

In terms of stock performance, Canfin Homes has seen a -1.25% return over the last week, but a commendable 17.13% return over the past six months and a 12.04% year-to-date (YTD) return. The current market capitalization of Canfin Homes is ₹11,601.72 crore, with a 52-week high of ₹951.75 and a low of ₹680.

As of 24 Oct, 2024, out of 17 analysts covering Canfin Homes, 1 has given a Sell rating, 3 have rated it as Hold, 8 analysts have given Buy ratings, and 5 analysts have issued Strong Buy ratings. The consensus recommendation stands at a Buy, reflecting overall confidence in the company's performance.