Somany Ceramics Q2 Results Live: Profit Falls by 41.45% YoY

Somany Ceramics Q2 Results Live : Somany Ceramics declared their Q2 results on 29 Oct, 2024, revealing a mixed performance for the quarter. The company's topline showed a modest increase of 1.7% year-over-year, contrasting sharply with a significant decline in profit, which fell by 41.45% compared to the same quarter last year.

In comparison to the previous quarter, Somany Ceramics experienced a robust revenue growth of 15.17%, alongside a notable profit increase of 39.74%. This suggests a temporary bounce-back after a challenging year.

However, the company faced rising costs, as Selling, General & Administrative expenses rose by 2.71% quarter-over-quarter and increased by 8.39% year-over-year, putting further pressure on profitability.

Operating income showed a mixed trend, up by 23.67% from the previous quarter, but down by 20.77% year-over-year, indicating ongoing challenges in maintaining operational efficiency amidst fluctuating demand.

Earnings per Share (EPS) for Q2 stood at ₹4.18, reflecting a 39.33% decline year-over-year, which may concern investors looking for growth indicators.

Investors have been cautious, as Somany Ceramics delivered a -4.17% return in the last week, while showing a modest 3.54% return over the last six months. Year-to-date returns have been disappointing, at -8.92%. The current market cap for Somany Ceramics is ₹2678.56 Cr, with a 52-week high of ₹872.6 and a low of ₹561.2.

Market sentiment appears to be cautiously optimistic, with 17 analysts covering the company. Out of these, 1 analyst has given a Hold rating, 4 analysts have issued Buy ratings, and 12 analysts have recommended a Strong Buy, indicating a consensus recommendation of Strong Buy as of 30 Oct, 2024.