Engineers India announces second quarter results: profit drops 21.83% year-on-year

Engineers India announces second quarter results: profit drops 21.83% year-on-year

2024-10-30 10:56:12 :

Engineers India second quarter results announced live: Engineers India announced its second quarter results on October 29, 2024, showing a sharp decline in financial performance. The company’s revenue fell by 12.77% year-on-year, and its profit fell by 21.83% year-on-year.

Engineers India reported revenue growth of 10.44% and profit growth of 8.77% compared to the previous quarter. Despite the year-over-year decline, this quarter’s results indicate a recovery from previous months.

The company also noted an increase in selling, general and administrative expenses, which increased 4.11% sequentially and 2.91% year-over-year. Rising expenses are adding to pressure on profitability.

Engineers India’s operating income increased by 28.36% month-on-month, but still declined significantly by 41.44% year-on-year, highlighting the ongoing challenges in maintaining operational efficiency.

Second quarter earnings per share (EPS) was $1.77, a decrease of 22.03% compared with the same period last year. A decline in earnings per share is a key indicator of the health of a company’s profitability.

Looking at stock performance, Engineers India returned 2.63% over the past week. However, while the stock has returned 5.5% year-to-date, it has lost a significant 26.05% over the past six months.

Currently, the market capitalization of the Institute of Engineers, India is $Rs 10,166.22 Crore, 52-week High $303.9 and minimum $121.8. The stock’s volatility is evident in its wide trading range over the year.

Of the five analysts covering Engineers India as of October 30, 2024, one has a “sell” rating, two have a “hold” rating, and two analysts have a “strong buy” rating, indicating Opinions on the company are mixed. prospect.

indian engineers finance

periodQ2Q1month-on-month growthQ2year-on-year growth
total revenue688.94623.83+10.44%789.81-12.77%
Total Selling/General/Administrative Expenses251.93241.98+4.11%244.8+2.91%
Depreciation/Amortization9.539.84-3.18%8.28+15.16%
total operating expenses636.09582.66+9.17%699.56-9.07%
operating income52.8541.17+28.36%90.24-41.44%
net income before tax99.0879.26+25%133.63-25.86%
net income99.6391.6+8.77%127.46-21.83%
Diluted normalized earnings per share1.771.63+8.59%2.27-22.03%
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