Hindustan Hardy Spicer Q2 FY24 results: profit rise by 190.28% YOY

Hindustan Hardy Spicer, a leading company in the automotive industry, announced their Q2 FY24 results on 18th October, 2023. The company reported a significant increase in both revenue and profit compared to the same period last year. The topline increased by 14.64% YoY, indicating strong growth in the company's sales. Moreover, the profit rose by an impressive 190.28% YoY, highlighting the company's profitability.

However, when compared to the previous quarter, the revenue growth was relatively modest, with only a 0.85% increase. Additionally, the profit decreased by 48.46% q-o-q. This decline in profit could be attributed to various factors, such as increased costs or lower sales volume.

One of the key areas where Hindustan Hardy Spicer managed to control expenses was the Selling, General & Administrative (SG&A) expenses. The company successfully reduced these expenses by 2.22% q-o-q, indicating efficient cost management. However, on a year-on-year basis, the SG&A expenses increased by 7.45%, which could be attributed to inflation or other factors.

The operating income, which is a measure of a company's profitability from its core operations, showed a contrasting performance. It declined by 44.84% q-o-q, indicating a decrease in operational efficiency. However, on a year-on-year basis, the operating income increased by a significant 122.28%, suggesting improved profitability compared to the same period last year.

The earnings per share (EPS) for Q2 FY24 stood at ₹5.54, representing a substantial increase of 190.05% YoY. This indicates that the company's earnings were able to grow at a faster rate than its outstanding shares.

In terms of stock performance, Hindustan Hardy Spicer has delivered impressive returns to its shareholders. In the last 1 week, the company's stock has generated a return of 5.84%. Over the past 6 months, the stock has shown remarkable growth, delivering a return of 120.18%. Year-to-date (YTD), the stock has provided a return of 145.43%, outperforming the market.

As of now, Hindustan Hardy Spicer has a market capitalization of ₹86.42 Cr. The company's stock has a 52-week high of ₹588.5 and a 52-week low of ₹214.1, indicating the volatility in its price over the past year.