Relaxo Footwears Q2 Results Live: Profit Falls by 16.88% YOY

Relaxo Footwears Q2 Results Live : Relaxo Footwears declared their Q2 results on 08 Nov, 2024, revealing a challenging quarter for the company. The topline decreased by 5.03% compared to the same quarter last year, while profit saw a more significant decline of 16.88% YoY.

In comparison to the previous quarter, Relaxo's revenue experienced a decline of 9.2%, with profit decreasing by 17.22%. This downward trend raises concerns about the company's short-term performance amid a competitive market landscape.

The company's Selling, General & Administrative expenses showed a slight decline of 3.06% quarter-over-quarter but increased by 10.92% year-over-year, indicating rising operational costs that may be impacting profitability.

Operating income also took a hit, dropping by 19.87% quarter-over-quarter and 12.22% year-over-year. The Earnings Per Share (EPS) for Q2 stood at ₹1.48, marking a 16.85% decrease from the same period last year.

In terms of stock performance, Relaxo Footwears has delivered a modest return of 0.89% over the last week. However, the longer-term outlook appears bleak with a decline of 7.57% over the past six months and a substantial drop of 13.81% year-to-date.

Currently, Relaxo Footwears has a market capitalization of ₹19,386.09 Cr. The stock has seen a 52-week high of ₹949 and a low of ₹733.6, reflecting significant volatility in its market performance.

Looking ahead, analysts seem divided on the stock's potential. Out of 12 analysts covering Relaxo, only 1 has issued a Strong Sell rating, 3 have recommended Sell, 5 have suggested Hold, and 3 have given Buy ratings. The consensus recommendation as of 09 Nov, 2024, remains to Hold.