TECHNOE, a prominent Indian company, has released its financial results for the quarter ending September 2024 (Q2 FY2024). The company recorded impressive growth in sales and operating profit margins, reinforcing its market position in India. Below is a comparison of TECHNOE’s Q2 2024 results against the previous quarter, Q1 2024, and the same quarter last year, Q2 2023.
Key Highlights and Comparative Analysis
Sales Growth
- Q2 2024 vs. Q1 2024: TECHNOE saw a substantial quarter-over-quarter increase in sales, rising from ₹375 crores in Q1 2024 to ₹441 crores in Q2 2024, marking an 18% growth.
- Q2 2024 vs. Q2 2023: Sales declined by approximately 4.5% year-over-year, from ₹462 crores in Q2 2023 to ₹441 crores in Q2 2024.
Net Profit
- The net profit for Q2 2024 was ₹94 crores, slightly lower than Q1 2024’s ₹98 crores but showing a robust 27% improvement from ₹74 crores in Q2 2023.
Operating Profit Margin
- The operating profit margin increased to 16% in Q2 2024 from 14% in Q1 2024, indicating better efficiency. It was slightly lower than the 17% seen in Q2 2023.
Other Income
- Other income in Q2 2024 decreased to ₹39 crores from ₹68 crores in Q1 2024 but was higher than the ₹29 crores reported in Q2 2023.
Earnings Per Share (EPS)
- EPS for Q2 2024 stood at ₹8.10, a decrease from ₹9.12 in Q1 2024 but an increase from ₹6.86 in Q2 2023, demonstrating consistent growth over the year.
Operating Profit
- The operating profit increased to ₹70 crores in Q2 2024, a 34% rise from ₹52 crores in Q1 2024, though it remained below the ₹78 crores achieved in Q2 2023.
