Pennar Industries Q1 Results Live: Profit Rise by 21.05% YoY

Pennar Industries Q1 Results Live : Pennar Industries declared their Q1 results on 12 Aug, 2024. The topline decreased by 2.06% year-over-year (YoY) while the profit saw a significant rise of 21.05% YoY. This mixed performance comes amid challenging market conditions. When compared to the previous quarter, the revenue declined by 10.86% and the profit decreased by 7.72%.

The company managed to control its Selling, General & Administrative (SG&A) expenses, which declined by 5.19% quarter-over-quarter (QoQ) and decreased by 5.63% YoY. This reduction in expenses has contributed to the improved profit margins.

Operational efficiency was a highlight this quarter. The operating income was up by 12.63% QoQ and saw a robust increase of 20.92% YoY. This indicates that the company is getting better at converting its core operations into profits.

Earnings per share (EPS) for Q1 stood at ₹1.96, reflecting an increase of 20.99% YoY. This is a positive sign for shareholders, indicating improved profitability on a per-share basis.

In terms of stock performance, Pennar Industries has delivered a -1.83% return in the last week, a 13.48% return over the last six months, and an impressive 35.28% year-to-date (YTD) return. This shows a strong upward trend in the company's stock value over the longer term.

The company currently has a market capitalization of ₹2276.41 Cr. The stock has seen a 52-week high of ₹204.12 and a low of ₹90, suggesting considerable volatility but also significant growth potential.

As of 14 Aug, 2024, one analyst covering the company has given it a 'Buy' rating. The consensus recommendation as of this date was to Buy, reflecting confidence in the company's future prospects.