IFCI Q2 Results 2024:IFCI has announced its Q2 results for 2024 on November 15, revealing a mixed financial performance. The company’s topline increased by 7.47% year-on-year, reaching a revenue of ₹586.91 crore. However, profit for the quarter fell by 12.73% year-on-year, amounting to ₹82.62 crore.
In comparison to the previous quarter, IFCI experienced significant growth, with revenue rising by 57.08% and profit soaring by 176.36%. This indicates a strong recovery from previous periods, despite the year-on-year decline in profit.
The company’s selling, general, and administrative expenses saw a slight uptick, rising by 2.69% quarter-over-quarter and by 3.16% year-over-year. This increase in operational costs could have contributed to the profit decline.
Notably, the operating income showed remarkable growth, up by 712.21% quarter-over-quarter, although it decreased by 83.28% year-over-year, highlighting volatility in operational performance.
Earnings per share (EPS) for the quarter stood at ₹0.64, which reflects a substantial increase of 261.32% year-on-year. This surge in EPS might indicate improved profitability metrics from a shareholder’s perspective.
In the stock market, IFCI shares have experienced a decline of 13.62% over the past week, but they have provided a return of 3.36% over the last six months and a remarkable 98.22% year-to-date return, indicating strong performance in the long run.
Currently, IFCI boasts a market capitalization of ₹15,101.33 crore, with its stock trading between a 52-week high of ₹91.4 and a low of ₹23.6, showcasing significant price fluctuations in recent times.
Disclaimer: This is an AI-generated live blog and has not been edited by LiveMint staff.
