Indoco Remedies Q2 Results: Loss at ₹9.57Cr, Revenue Decreased by 10.19% YoY

Indoco Remedies Q2 Results Live : Indoco Remedies declared its Q2 results on 24 October 2024, revealing a significant decline in its financial performance. The company reported a topline decrease of 10.19%, resulting in a loss of ₹9.57 crore. This marks a stark contrast to the profit of ₹35.08 crore reported in the same period of the previous fiscal year.

Despite the year-on-year decline, there was a slight recovery compared to the previous quarter, with revenue showing a modest growth of 0.27%. However, the overall performance remains concerning for investors.

The company's Selling, General & Administrative expenses saw a decrease of 4.5% quarter-on-quarter, but they increased by 0.83% year-on-year. This indicates a mixed picture in cost management.

Operating income experienced a steep decline, down by 43.56% compared to the previous quarter and a staggering 77.12% year-on-year. This substantial drop raises questions about the company's operational efficiency.

The Earnings Per Share (EPS) stood at ₹-1.09 for Q2, reflecting a decrease of 128.53% year-on-year, which underscores the challenges faced by the company in maintaining profitability.

In terms of stock performance, Indoco Remedies has delivered a -7.57% return over the past week, -2.55% over the last six months, and a significant -20.09% year-to-date return. These figures indicate a troubling trend for shareholders.

As of the latest data, Indoco Remedies boasts a market capitalization of ₹2911.11 crore, with a 52-week trading range between ₹415 and ₹286.6.

Analyst coverage remains cautiously optimistic, with out of three analysts following the company; one has given a Hold rating, another a Buy rating, and one a Strong Buy rating. As of 25 October 2024, the consensus recommendation is to Buy, suggesting potential for recovery.