Jai Mata Glass Q2 FY24 results: profit falls by 74.54% YOY
Jai Mata Glass Q2 FY24 results: Revenue decreased by 22.71% YoY & profit decreased by 74.54% YoY
Jai Mata Glass, a leading glass manufacturing company, announced their financial results for the second quarter of FY24 on 20th October, 2023. The company witnessed a significant decline in both revenue and profit compared to the same period last year. The topline decreased by 22.71% YoY, indicating a challenging market environment for the company. Furthermore, the profit also took a hit, falling by 74.54% YoY.
In comparison to the previous quarter, Jai Mata Glass experienced a decline of 17.36% in revenue. However, there was a notable improvement in profit, which increased by 128.28% QoQ. This indicates that the company has taken measures to optimize its operations and improve its bottom line.
One of the contributing factors to the decline in profit is the increase in Selling, general & administrative (SG&A) expenses. These expenses rose by 0.24% QoQ and 15.75% YoY, putting additional pressure on the company's profitability.
The operating income of Jai Mata Glass also faced significant challenges, with a decline of 82.75% QoQ and 89.62% YoY. This indicates that the company's operations were not as efficient during the second quarter of FY24 compared to the previous quarter and the same period last year.
The earnings per share (EPS) for Q2 FY24 stood at ₹0, indicating a decrease of 73.47% YoY. This is a concerning trend for investors, as it shows a decline in the company's profitability on a per-share basis.
In terms of market performance, Jai Mata Glass has delivered a return of 0.62% in the last 1 week. However, the company has faced challenges in the longer term, with a negative return of -23.94% in the last 6 months. On a year-to-date basis, the company has managed to deliver a positive return of 47.27%, indicating some recovery.
As of now, Jai Mata Glass has a market capitalization of ₹16.2 Cr. The company's stock has reached a 52-week high of ₹4.65 and a 52-week low of ₹0.49, reflecting the volatility in the market and the company's performance.
Jai Mata Glass Financials
| Period | Q2 FY24 | Q1 FY24 | Q-o-Q Growth | Q2 FY23 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 0.11 | 0.14 | -17.36% | 0.15 | -22.71% |
| Selling/ General/ Admin Expenses Total | 0.04 | 0.04 | +0.24% | 0.04 | +15.75% |
| Depreciation/ Amortization | 0 | 0 | +25% | 0.01 | -91.94% |
| Total Operating Expense | 0.11 | 0.09 | +15.44% | 0.07 | +49.5% |
| Operating Income | 0.01 | 0.05 | -82.75% | 0.08 | -89.62% |
| Net Income Before Taxes | 0.02 | -0.07 | +128.28% | 0.08 | -76.78% |
| Net Income | 0.02 | -0.07 | +128.28% | 0.08 | -74.54% |
| Diluted Normalized EPS | 0 | -0.01 | +129.46% | 0.01 | -73.47% |
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