Coastal Corporation Q1 Results Live: Profit Falls by 7.12% YOY

Coastal Corporation Q1 Results Live : Coastal Corporation declared its Q1 results on 14 August, 2024, unveiling a mixed bag of financial performance indicators. The company's topline showcased robust growth, increasing by 32.05% year-over-year (YoY). However, the profit saw a decline of 7.12% YoY, indicating challenges on the bottom line.

When compared to the previous quarter, the company witnessed a significant uptick. Revenue grew by 13.89%, and profit saw a remarkable increase of 149.29%, reflecting a strong quarterly performance.

A notable development was the decline in Selling, General & Administrative (SG&A) expenses, which fell by 22.78% quarter-over-quarter (q-o-q). Conversely, these expenses saw an increase of 22.36% YoY, suggesting higher costs compared to the same period last year.

Operating income also experienced fluctuations, rising sharply by 246.82% q-o-q, but decreasing by 4.83% YoY. This indicates that while the recent quarter's operations were more efficient, there are still challenges compared to the previous year.

Earnings per share (EPS) for Q1 stood at ₹2.26, marking a 7% decrease YoY. This decline in EPS aligns with the overall drop in profit, reflecting the company's ongoing financial adjustments.

In terms of market performance, Coastal Corporation has delivered a -9.36% return over the past week, a -1.99% return over the last six months, and a 3.47% year-to-date (YTD) return, indicating mixed investor sentiment.

As of now, Coastal Corporation holds a market capitalization of ₹366.66 crore. The stock has seen a 52-week high of ₹354.15 and a low of ₹208.5, highlighting its volatility over the past year.