EID Parry India Limited (EID Parry) has announced its financial results for the second quarter of the fiscal year 2024 (Q2 FY24), ending September 30, 2024. The company reported mixed results, with revenue growth but a decline in profitability.
Key Highlights:
- Revenue: Total revenue for the quarter stood at ₹9,330 crores, a 38% increase compared to the previous quarter (₹6,747 crores) and a 3% increase compared to the same quarter last year (₹9,059 crores).
- Net Profit: Operating profit for the quarter was ₹592 crores, a significant increase of 162% from the previous quarter (₹226 crores). However, it declined by 24% compared to the same quarter last year (₹782 crores).
- Operating Profit Margin: The operating profit margin for the quarter was 10.0%, up from 7.0% in the previous quarter but down from 12.0% in the same quarter last year.
- Other Income: Other income for the quarter was ₹69 crores, up from ₹60 crores in the previous quarter but down from ₹151 crores in the same quarter last year.
- Earnings Per Share (EPS): EPS for the quarter was ₹17.21, up from ₹5.14 in the previous quarter but down from ₹25.48 in the same quarter last year.
EID Parry’s Q2 results demonstrate a mixed performance. While the company achieved strong revenue growth, the profitability metrics were impacted. The increase in operating profit and margin compared to the previous quarter is encouraging, but the decline compared to the same quarter last year highlights the challenges faced by the company.
The company’s focus on cost control and operational efficiency will be crucial to improve profitability in the coming quarters. Investors will be closely watching the company’s performance in the subsequent quarters for further insights into its growth trajectory.
