2024-10-26 10:11:55 :
Birla Cable second quarter results live release: Birla Cable announced its second quarter results on October 24, 2024, revealing mixed results for the quarter. The company’s revenue increased by 4.01% year-on-year, but its profits fell sharply by 63.94%. Compared with the previous quarter, revenue growth was stronger, increasing by 9.53%, and profit increased significantly by 1163.68%.
The financial report showed that selling, general and administrative expenses increased by 1.13% month-on-month, but decreased slightly by 0.53% year-on-year. This suggests spending remains under control despite profitability challenges.
Operating income also reflected the comparative trend, increasing 103.99% month-on-month; however, it fell 25.1% year-on-year. This indicates that the company faces an unstable operating environment as it responds to market fluctuations.
Second quarter earnings per share (EPS) were $0.61, a significant decrease of 63.69% compared with the same period last year. The decline in earnings per share is a key indicator of the company’s profitability woes.
Investors reacted cautiously to these results, as Birla Cable returned -5.49% last week, -18.34% over the past six months, and an unsettling -22.6% year-to-date return. The performance raised concerns among stakeholders about the company’s future growth prospects.
Currently, Birla Cable has a market capitalization of $663.15 Cr, 52-week high $340 and minimum $209, highlighting the volatility of its stock performance as it adjusts to the current market landscape.
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