Nitin Castings Q1 Results Live: Profit Rises by 9.25% YOY

Nitin Castings Q1 Results Live : Nitin Castings declared their Q1 results on 14 Aug, 2024, showing a notable performance in the first quarter. The company's topline saw an increase of 11.48% year-over-year (YoY), while the profit rose by 9.25% YoY. Compared to the previous quarter, the revenue grew by 1.86%, and the profit surged by a remarkable 71.22%.

However, the company faced a significant rise in its Selling, General & Administrative (SG&A) expenses, which surged by 363.25% quarter-over-quarter (QoQ) and increased by 101.82% YoY. Despite these rising costs, Nitin Castings managed to boost its operating income, which was up by 84.11% QoQ and increased by 26.67% YoY.

The Earnings Per Share (EPS) for Q1 stood at ₹7.7, reflecting an increase of 9.22% YoY. This indicates a positive trend in the company's profitability and earnings potential for its shareholders.

In terms of stock performance, Nitin Castings has delivered a return of 0.52% in the last week, 32.11% in the last six months, and an impressive 46.01% year-to-date (YTD). This strong performance in the stock market underscores investor confidence in the company's growth and operational strategies.

Currently, Nitin Castings has a market capitalization of ₹377.34 Crore, with a 52-week high of ₹885 and a low of ₹441.8. The company's robust financial performance and market position highlight its potential for sustained growth in the coming quarters.