Somani Ceramics' second quarter results announced: profit fell 41.45% year-on-year

2024-10-30 10:55:33 :

Somani Ceramics’ second quarter results live broadcast: Somani Ceramics announced its second quarter results on October 29, 2024, revealing mixed results for the quarter. The company’s revenue increased slightly by 1.7% year-on-year, in sharp contrast to the 41.45% profit decline in the same period last year.

Compared with the previous quarter, Somani Ceramics’ revenue increased strongly by 15.17%, and its profit increased significantly by 39.74%. That points to a temporary rebound after a challenging year.

However, the company is facing rising costs. Selling, general and administrative expenses increased by 2.71% month-on-month and 8.39% year-on-year, putting further pressure on profitability.

The trend of operating income was mixed, with a month-on-month increase of 23.67% but a year-on-year decrease of 20.77%, indicating that maintaining operational efficiency amid fluctuating demand still faces challenges.

Second quarter earnings per share (EPS) were $4.18, a year-over-year decrease of 39.33%, which may worry investors looking for growth indicators.

Investors have been cautious as Somani Ceramics returned -4.17% last week and 3.54% over the past six months. Year-to-date returns have been disappointing at -8.92%. Somani Ceramics’ current market capitalization is $2678.56 Cr, 52-week high $872.6 and minimum $561.2.

Market sentiment seems cautiously optimistic, with 17 analysts covering the company. Among them, 1 analysts rate it a Hold, 4 rate it a Buy, and 12 recommend a Strong Buy, indicating that the consensus recommendation as of October 30, 2024 is a Strong Buy.

Somani Ceramics Financials

period	Q2	Q1	month-on-month growth	Q2	year-on-year growth
total revenue	666.33	578.58	+15.17%	655.16	+1.7%
Total Selling/General/Administrative Expenses	89.12	86.77	+2.71%	82.22	+8.39%
Depreciation/Amortization	19.16	19.17	-0.05%	17.62	+8.74%
total operating expenses	629.49	548.79	+14.71%	608.66	+3.42%
operating income	36.84	29.79	+23.67%	46.5	-20.77%
net income before tax	24.68	18.38	+34.28%	39.36	-37.3%
net income	17.16	12.28	+39.74%	29.31	-41.45%
Diluted normalized earnings per share	4.18	2.99	+39.8%	6.89	-39.33%