Piramal Enterprises Q2 Results Live: Profit Rises by 238.18% YOY

Piramal Enterprises Q2 Results Live : Piramal Enterprises declared their Q2 results on 23 Oct, 2024, showcasing a remarkable performance with a topline increase of 15.38% year-over-year (YoY) and a staggering profit increase of 238.18% YoY.

In comparison to the previous quarter, however, the company experienced a revenue growth of 8.69% but a profit decline of 10.2%. This mixed performance has raised eyebrows among analysts and investors alike.

The financial metrics reveal that Selling, General & Administrative expenses rose by 8.84% quarter-over-quarter (q-o-q) and increased by 14.91% YoY, indicating rising operational costs.

Notably, the operating income took a significant hit, down by 73.14% q-o-q and decreased by 49.09% YoY, prompting concerns about the company's cost management strategies.

Earnings per share (EPS) for Q2 was reported at ₹6.76, marking an impressive increase of 333.64% YoY, which could provide some reassurance to shareholders amidst the other mixed signals.

In the last week, Piramal Enterprises has delivered a -5.42% return, although it has posted an 18.79% return over the last 6 months and a 12.12% return year-to-date (YTD).

Currently, the market capitalization of Piramal Enterprises stands at ₹23,448.17 crore, with a 52-week high of ₹1,143.8 and a low of ₹736.6.

As of 24 Oct, 2024, out of 7 analysts covering the company, opinions vary, with 2 analysts giving a Strong Sell rating, 2 a Sell rating, another 2 a Hold rating, and 1 analyst recommending a Buy.

The consensus recommendation as of the same date suggests a Sell, reflecting a cautious outlook on the company’s future performance.