Tega Industries Q2 Results 2024: Profit Falls by 84.76% YOY
Tega Industries Q2 Results 2024 on 15 Nov, 2024: Revenue decreased by 6.4% YoY & profit decreased by 84.76% YoY, profit at ₹7.22 crore and revenue at ₹353.3 crore.
Tega Industries Q2 Results 2024:Tega Industries announced its Q2 results for 2024 on November 14, revealing a significant decline in profitability. The company reported a profit of ₹7.22 crore, marking an alarming 84.76% decrease year-over-year. Revenue also took a hit, decreasing by 6.4% compared to the previous year, amounting to ₹353.3 crore.
In comparison to the previous quarter, the revenue showed a slight growth of 3.92%; however, profit experienced a substantial decline of 80.35%. The company's selling, general & administrative expenses rose by 8.33% quarter-on-quarter and increased by 11.09% year-on-year, further straining its profitability.
The operating income faced a drastic reduction, down 81.42% quarter-on-quarter and down 88.62% year-on-year, indicating persistent challenges in the operational performance of the company. The Earnings Per Share (EPS) for Q2 stood at ₹1.08, a drop of 84.81% from the previous year.
Despite these disappointing results, Tega Industries has shown some resilience in the longer term, delivering a 26.65% return over the last six months and a remarkable 67.56% year-to-date return. However, the stock has experienced a decline of 11.83% in the past week.
As of November 15, 2024, Tega Industries holds a market capitalization of ₹12,843.01 crore, with a 52-week high of ₹2,328.90 and a low of ₹963.95. Analysts remain optimistic about the company's future, as all three analysts covering Tega Industries have given it a 'Strong Buy' rating. The consensus recommendation remains positive, suggesting potential growth opportunities ahead.
Tega Industries Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 353.3 | 339.98 | +3.92% | 377.46 | -6.4% |
| Selling/ General/ Admin Expenses Total | 62.17 | 57.39 | +8.33% | 55.96 | +11.09% |
| Depreciation/ Amortization | 26.63 | 22.67 | +17.45% | 13.82 | +92.67% |
| Total Operating Expense | 345.58 | 298.41 | +15.81% | 309.58 | +11.63% |
| Operating Income | 7.72 | 41.56 | -81.42% | 67.89 | -88.62% |
| Net Income Before Taxes | 15.8 | 47.68 | -66.87% | 63.37 | -75.07% |
| Net Income | 7.22 | 36.74 | -80.35% | 47.36 | -84.76% |
| Diluted Normalized EPS | 1.08 | 5.52 | -80.43% | 7.11 | -84.81% |
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