Gujarat State Petronet Q2 Results Live: Profit Falls by 38.04% YoY

Gujarat State Petronet Q2 Results Live : Gujarat State Petronet has reported its Q2 results for the fiscal year 2024, revealing a significant decline in both revenue and profit. The company announced its financial results on November 7, 2024, highlighting a 5.71% year-on-year decrease in topline revenue and a staggering 38.04% drop in profit.

In comparison to the previous quarter, the company experienced a more pronounced decline, with revenue declining by 14.98% and profit decreasing by 24.88%. The results indicate ongoing challenges for the company amid a volatile market environment.

The company's Selling, General & Administrative expenses saw a slight increase of 3.48% quarter-on-quarter and a 1.94% year-on-year rise, putting further pressure on the bottom line. Additionally, operating income was down by 20.67% compared to the previous quarter and decreased by 29.5% year-on-year, reflecting tougher operating conditions.

Earnings Per Share (EPS) for the second quarter stood at ₹4.99, marking a decrease of 38.09% year-on-year. This drop in EPS signals concerns about profitability moving forward and may affect investor sentiment.

Despite the disappointing quarterly results, Gujarat State Petronet has managed to deliver a 0.33% return in the past week, a notable 34.25% return over the last six months, and a 27.58% year-to-date return. These figures indicate a complex investment landscape as investors weigh recent performance against longer-term gains.

The company's current market capitalization stands at ₹22,026.81 crore, with a 52-week high of ₹469.7 and a low of ₹260.05. These figures highlight the volatility of the stock in recent months.

As of November 8, 2024, the consensus among analysts covering Gujarat State Petronet is to hold the stock, with 1 analyst rating it as a strong sell, 3 as sell, 11 as hold, 4 as buy, and 2 as strong buy. This mixed outlook reflects the uncertainty surrounding the company's future performance.