Eid Parry India Q2 Results 2024: Profit Falls by 32.42% YoY, Profit at ₹305.63 Crore and Revenue at ₹9330.35 Crore

Eid Parry India Q2 Results 2024:Eid Parry India announced its Q2 results for the financial year 2024 on 14 Nov, revealing a mixed performance. The company's topline grew by 2.99% year-on-year, while profit saw a significant decline of 32.42%. The profit for the quarter stands at ₹305.63 crore against a revenue of ₹9330.35 crore.

In comparison to the previous quarter, Eid Parry India showcased impressive growth, with revenue increasing by 38.29% and profit soaring by 234.64%. This indicates a strong recovery from the preceding quarter despite the annual decline.

The company's selling, general, and administrative expenses showed a slight decline of 0.28% quarter-over-quarter, although they increased by 7.63% year-over-year, reflecting ongoing operational costs.

Operating income for Eid Parry India was reported to be up by 131.51% when compared with the previous quarter, yet it decreased by 11.27% year-over-year, highlighting fluctuations in operational efficiency.

Earnings per share (EPS) for Q2 is reported at ₹17.16, which marks a decrease of 32.57% year-over-year, reflecting the challenges faced in profitability during this period.

Over the past week, Eid Parry India shares have delivered a return of -8.1%, while the stock has seen a robust 23.79% return over the last six months and a remarkable 40.33% year-to-date performance.

As of now, Eid Parry India has a market capitalization of ₹13,876.87 crore, with a 52-week high of ₹875.5 and a low of ₹471.6, indicating volatility in its stock price over the past year.

Among analysts covering the company, there is a unanimous consensus recommendation of 'Strong Buy' as of 16 Nov, 2024, suggesting confidence in the company's long-term growth potential.

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