Oriental Cement announced second quarter results: profit fell 90.56% year-on-year

Oriental Cement’s second quarter results live broadcast: Oriental Cement announced its second quarter results on November 8, 2024, with both revenue and profits declining sharply. The company’s revenue fell by 24.5% year-on-year, and its profits dropped significantly by 90.56%. Compared with the previous quarter, revenue fell by 21.87% and profit fell by 93.67%.

The company’s selling, general and administrative (SG&A) expenses improved slightly, falling 15.63% month-on-month and 13.91% year-on-year. However, this decrease was overshadowed by a sharp decline in operating income, which fell 91.1% month-on-month and 89.65% year-on-year.

Second quarter earnings per share (EPS) were $0.11, a significant year-on-year decrease of 90.83%. This disappointing performance prompted mixed reactions from analysts, with 3 out of 7 analysts assigning a strong sell rating, 1 recommending a sell, 1 recommending a hold, and 1 recommending a buy 1 analyst has given the stock a Strong Buy rating.

Despite recent challenges, Oriental Cement has shown resilience, returning -2.06% last week, 57.25% over the past six months, and 35.64% year-to-date. Currently, the company’s market capitalization is $Rs 6,977.83 Crore, a new 52-week high $379 and lowest $182.

As of November 9, 2024, the consensus analyst recommendation is Sell, reflecting caution about the company’s future performance amid a significant decline in profitability and revenue.