Simplex Infrastructures Q2 Results 2024 on 17 Nov, 2024: loss rise by 49.1% YOY, loss at ₹10.78 crore and revenue at ₹268.06 crore

Simplex Infrastructures Q2 Results 2024:Simplex Infrastructures declared their Q2 results on 14 Nov, 2024, reporting a concerning financial performance. The company witnessed a significant decline in topline revenue, which decreased by 14.21% year-over-year (YoY), amounting to ₹268.06 crore.

The losses for the quarter also rose sharply, with a year-on-year increase of 49.1%, leading to a net loss of ₹10.78 crore. Compared to the previous quarter, revenue declined by 9.38%, and losses increased by 9.22%.

On a positive note, the company managed to reduce its selling, general, and administrative expenses, which fell by 2.07% quarter-on-quarter and by 8.48% YoY. Additionally, the operating income saw a slight improvement, rising by 16.64% from the previous quarter, although it still marked a decrease of 6.77% YoY.

Earnings per share (EPS) for Q2 stood at ₹-1.88, reflecting a 48.03% decline compared to the same period last year. Despite these setbacks, Simplex Infrastructures has shown a notable recovery in its stock performance over the past six months, delivering a return of 93.52%, along with a year-to-date return of 218.59%.

As of now, Simplex Infrastructures holds a market capitalization of ₹1459.14 crore, with shares trading between a 52-week high of ₹307.85 and a low of ₹70.35. However, in the past week, the stock has delivered a negative return of -11.04%, indicating potential volatility ahead.

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