Indigo Paints Q2 Results Live: Profit Falls by 10.63% YOY

Indigo Paints Q2 Results Live : Indigo Paints declared their Q2 results on November 7, 2024, revealing a 7.35% increase in topline revenue compared to the same quarter last year. However, the company's profit witnessed a notable decline of 10.63% year-over-year.

In comparison to the previous quarter, Indigo Paints reported a revenue decline of 3.68% and a profit drop of 13.56%. This downward trend raises concerns about the company's short-term performance amidst growth in revenue.

The company's Selling, General & Administrative (SG&A) expenses saw a slight decrease of 1.53% quarter-on-quarter but increased significantly by 16.61% year-over-year, indicating rising operational costs that could be impacting profitability.

Operating income was also adversely affected, down 18.59% from the previous quarter and 15.21% year-over-year, reflecting ongoing challenges in maintaining operational efficiency.

The Earnings Per Share (EPS) for Q2 stood at ₹4.74, which represents a decline of 10.73% compared to the same period last year, further emphasizing the profitability challenges faced by the company.

In terms of stock performance, Indigo Paints has delivered a -1.05% return over the last week, but it has shown stronger gains with an 18.43% return over the last six months and a 9.24% year-to-date return.

As of November 8, 2024, Indigo Paints holds a market capitalization of ₹7755.64 crore, with a 52-week high of ₹1720.3 and a low of ₹1250. Analysts remain divided on the stock's potential, with one Sell rating, two Hold ratings, two Buy ratings, and one Strong Buy rating among the six analysts covering the company.

The consensus recommendation as of November 8, 2024, is to Buy, suggesting a cautious optimism regarding the company's future performance despite the recent quarterly setbacks.