Nuvoco Vistas Corporation Q2 results: loss at ₹85.17Cr, Revenue decreased by 11.83% YoY

Nuvoco Vistas Corporation Q2 Results Live : Nuvoco Vistas Corporation has reported its Q2 results for the fiscal year, revealing a significant downturn in financial performance. Announced on October 23, 2024, the company recorded a loss of ₹85.17 crore, a stark contrast to the profit of ₹1.53 crore reported during the same period last year.

The company's topline experienced a decline of 11.83% year-over-year, with revenue also dipping by 13.95% compared to the previous quarter. This decline has raised concerns among investors and analysts alike, as the company struggles to maintain profitability.

In terms of expenses, Nuvoco Vistas Corporation reported a reduction in selling, general, and administrative costs, which decreased by 11.41% quarter-over-quarter and 8.08% year-over-year. However, this cost-cutting measure was insufficient to offset the dramatic fall in operating income, which plummeted by 97.27% quarter-over-quarter and 96.67% year-over-year.

The earnings per share (EPS) for Q2 stood at ₹-2.38, marking a staggering 6050% decline year-over-year. This alarming statistic reflects the company's ongoing struggles and the impact of economic challenges in the construction sector.

Nuvoco Vistas Corporation's stock has also seen a negative trend, delivering a -6.11% return in the last week, -2.13% in the past six months, and a substantial -11.01% year-to-date return. The company's current market capitalization is reported at ₹12,157.6 crore, with a 52-week high of ₹398 and a low of ₹291.3.

As of October 24, 2024, analysts' coverage of Nuvoco Vistas Corporation presents a mixed outlook. Out of 15 analysts, 1 has issued a 'Strong Sell' rating, while 1 has rated it as 'Sell'. Conversely, there are 6 'Hold' ratings, 4 'Buy' ratings, and 3 'Strong Buy' ratings. The consensus recommendation remains a cautious 'Buy'.