E-PaperISGEC Heavy Engineering Q2 FY24 results: profit rise by 102.2% YOY
ISGEC Heavy Engineering Q2 FY24 results: Revenue decreased by 2.61% YoY & profit increased by 102.2% YoY
ISGEC Heavy Engineering announced its Q2 FY24 results on 14 Nov, 2023. The company reported a decrease in revenue by 2.61% year-on-year (YoY), but a significant increase in profit by 102.2% YoY.
In comparison to the previous quarter, the revenue saw a growth of 6.3% and the profit increased by 18.02%.
The Selling, general & administrative expenses rose by 0.47% quarter-on-quarter (QoQ) and increased by 9.49% YoY.
The operating income showed a substantial increase of 37.28% QoQ and 66.07% YoY.
The Earnings Per Share (EPS) for Q2 FY24 stood at ₹8.13, marking a significant increase of 102.24% YoY.
ISGEC Heavy Engineering delivered a return of 5.08% in the last 1 week, 60.58% in the last 6 months, and 64.01% year-to-date (YTD).
The company currently holds a market cap of ₹5774.27 Cr with a 52-week high/low of ₹837 & ₹417.85 respectively.
As of 17 Nov, 2023, out of 1 analysts covering the company, 1 analyst has given a Strong Buy rating, with the consensus recommendation being Strong Buy.
ISGEC Heavy Engineering Financials
| Period | Q2 FY24 | Q1 FY24 | Q-o-Q Growth | Q2 FY23 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 1473.1 | 1385.76 | +6.3% | 1512.53 | -2.61% |
| Selling/ General/ Admin Expenses Total | 122.99 | 122.42 | +0.47% | 112.33 | +9.49% |
| Depreciation/ Amortization | 25.9 | 25.1 | +3.19% | 25.86 | +0.15% |
| Total Operating Expense | 1365.42 | 1307.32 | +4.44% | 1447.69 | -5.68% |
| Operating Income | 107.68 | 78.44 | +37.28% | 64.84 | +66.07% |
| Net Income Before Taxes | 90.8 | 72.26 | +25.66% | 49.15 | +84.74% |
| Net Income | 59.79 | 50.66 | +18.02% | 29.57 | +102.2% |
| Diluted Normalized EPS | 8.13 | 6.89 | +18% | 4.02 | +102.24% |
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