Finolex Cables Q2 Results Live: Profit Falls by 23.54% YOY

Finolex Cables Q2 Results Live : Finolex Cables declared their Q2 results on 12 Nov, 2024, reporting a topline increase of 10.47% year-over-year, although the profit experienced a significant drop of 23.54% compared to the same quarter last year.

In comparison to the previous quarter, Finolex Cables saw a revenue growth of 6.6%, but the profit decreased sharply by 51.67%. This raises concerns about the company's profitability amidst rising operational costs.

The company's Selling, General & Administrative expenses rose by 3.87% quarter-over-quarter and increased by 11.41% year-over-year, indicating that the company is facing higher costs which may be impacting their bottom line.

Operating income also took a hit, down by 18.93% on a quarter-over-quarter basis and decreasing by 30.41% year-over-year, highlighting ongoing challenges in maintaining operational efficiency.

Earnings per share (EPS) for Q2 stood at ₹7.71, which reflects a decrease of 23.51% year-over-year, suggesting that shareholders may need to adjust their expectations moving forward.

In terms of stock performance, Finolex Cables has delivered a -5.22% return over the past week, though it has achieved an 11.89% return in the last six months and a 7.01% return year-to-date.

As of now, the company holds a market capitalization of ₹17,497.03 Cr, with its 52-week high and low recorded at ₹1,700 and ₹831.25, respectively, indicating some volatility in its stock price.

As of 13 Nov, 2024, out of six analysts covering the company, one has assigned a Hold rating, two have given Buy ratings, and three have rated it as Strong Buy, reflecting a generally positive outlook despite current profit concerns.

The consensus recommendation as of 13 Nov, 2024, is to Strong Buy, suggesting that analysts believe the company's stock may present a good investment opportunity going forward.