Techno Electric & Engineering Q2 Results 2024: Profit Falls by 4.88% YoY

Techno Electric & Engineering Q2 Results 2024:Techno Electric & Engineering declared their Q2 results for the fiscal year 2024 on 14th November 2024, revealing a challenging quarter for the company. The financial report showed that the topline revenue decreased significantly by 40.04% year-over-year, leading to a profit of ₹94.21 crore, which marks a decline of 4.88% compared to the same period last year.

Despite the year-over-year decline, there was a notable improvement in performance compared to the previous quarter, with revenue increasing by 17.6%. However, profit saw a slight decrease of 3.97% sequentially. The company's selling, general, and administrative expenses rose by 17.71% quarter-over-quarter but witnessed a substantial decrease of 30.3% year-over-year.

The operating income for the quarter was reported to be up by 35.25% compared to the previous quarter, although it decreased by 28.09% year-over-year. Earnings per share (EPS) for Q2 stood at ₹8.22, reflecting a decline of 12.9% when compared to the same quarter last year.

In terms of stock performance, Techno Electric & Engineering has seen a return of -14.88% in the last week, while exhibiting a 25.8% return over the past six months and an impressive 75.28% year-to-date return. The company currently holds a market capitalization of ₹16,305.2 crore, with a 52-week high of ₹1,822 and a low of ₹605.

Analyst sentiment remains mixed as of 14th November 2024, with one analyst giving a Sell rating, another recommending Buy, and a third suggesting a Strong Buy. The consensus recommendation as of this date is to Buy, indicating a cautious optimism about the company's future prospects despite the recent quarterly results.

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