Piramal Enterprises second quarter results announced: profit increased by 238.18% year-on-year

Piramal Enterprises Q2 Results Live

2024-10-24 11:09:42 :

Piramal Enterprises second quarter results live broadcast: Piramal Enterprises announced its second quarter results on October 23, 2024, and performed well, with revenue increasing by 15.38% year-on-year and profit increasing by 238.18% year-on-year.

However, compared with the previous quarter, the company’s revenue increased by 8.69%, but its profit fell by 10.2%. The mixed performance has caught the attention of analysts and investors.

Financial indicators show that sales, general and administrative expenses increased by 8.84% month-on-month and 14.91% year-on-year, indicating an increase in operating costs.

It is worth noting that operating income took a big hit, falling 73.14% month-on-month and 49.09% year-on-year, triggering concerns about the company’s cost management strategy.

Second quarter earnings per share (EPS) reported as $6.76, a year-over-year increase of 333.64%, which is impressive and should provide some comfort to shareholders amid otherwise mixed signals.

Last week, Piramal Enterprises returned -5.42%, although the company has returned 18.79% over the past 6 months, with a year-to-date (YTD) return of 12.12%.

Currently, Piramal Enterprises has a market capitalization of $23,448.17 Crore, a new 52-week high $1,143.8 The lowest is $736.6.

Of the 7 analysts covering the company as of October 24, 2024, opinions were mixed, with 2 assigning it a Strong Sell rating, 2 assigning it a Sell rating, and 2 assigning With a Hold rating, 1 analysts recommend Buy.

The consensus recommendation as of the same date recommended Sell, reflecting a cautious outlook for the company’s future performance.

Piramal Corporate Finance

periodQ2Q1month-on-month growthQ2year-on-year growth
total revenue2214.542037.42+8.69%1919.33+15.38%
Total Selling/General/Administrative Expenses413.03379.5+8.84%359.44+14.91%
Depreciation/Amortization55.4351.02+8.64%38.27+44.84%
total operating expenses2012.511285.23+56.59%1522.52+32.18%
operating income202.03752.19-73.14%396.81-49.09%
net income before tax190.2247.93-23.28%58.92+222.81%
net income162.97181.48-10.2%48.19+238.18%
Diluted normalized earnings per share6.76-8.97+175.38%-2.89+333.64%
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