Gujarat State Petronet Q2 Results Live : Gujarat State Petronet has reported its Q2 results for the fiscal year 2024, revealing a significant decline in both revenue and profit. The company announced its financial results on November 7, 2024, highlighting a 5.71% year-on-year decrease in topline revenue and a staggering 38.04% drop in profit.
In comparison to the previous quarter, the company experienced a more pronounced decline, with revenue declining by 14.98% and profit decreasing by 24.88%. The results indicate ongoing challenges for the company amid a volatile market environment.
The company’s Selling, General & Administrative expenses saw a slight increase of 3.48% quarter-on-quarter and a 1.94% year-on-year rise, putting further pressure on the bottom line. Additionally, operating income was down by 20.67% compared to the previous quarter and decreased by 29.5% year-on-year, reflecting tougher operating conditions.
Earnings Per Share (EPS) for the second quarter stood at ₹4.99, marking a decrease of 38.09% year-on-year. This drop in EPS signals concerns about profitability moving forward and may affect investor sentiment.
Despite the disappointing quarterly results, Gujarat State Petronet has managed to deliver a 0.33% return in the past week, a notable 34.25% return over the last six months, and a 27.58% year-to-date return. These figures indicate a complex investment landscape as investors weigh recent performance against longer-term gains.
The company’s current market capitalization stands at ₹22,026.81 crore, with a 52-week high of ₹469.7 and a low of ₹260.05. These figures highlight the volatility of the stock in recent months.
As of November 8, 2024, the consensus among analysts covering Gujarat State Petronet is to hold the stock, with 1 analyst rating it as a strong sell, 3 as sell, 11 as hold, 4 as buy, and 2 as strong buy. This mixed outlook reflects the uncertainty surrounding the company’s future performance.
Gujarat State Petronet Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 4159.02 | 4891.54 | -14.98% | 4410.97 | -5.71% |
| Selling/ General/ Admin Expenses Total | 68.88 | 66.56 | +3.48% | 67.57 | +1.94% |
| Depreciation/ Amortization | 178.8 | 171.4 | +4.32% | 165 | +8.36% |
| Total Operating Expense | 3631.14 | 4226.1 | -14.08% | 3662.24 | -0.85% |
| Operating Income | 527.88 | 665.43 | -20.67% | 748.73 | -29.5% |
| Net Income Before Taxes | 576.78 | 711.56 | -18.94% | 789.14 | -26.91% |
| Net Income | 281.67 | 374.97 | -24.88% | 454.62 | -38.04% |
| Diluted Normalized EPS | 4.99 | 6.65 | -24.96% | 8.06 | -38.09% |
