Onward Technologies Q2 Results Live : Onward Technologies declared their Q2 results on 18 Oct, 2024, revealing a challenging financial landscape as the company reported a 62.99% year-over-year decline in profit. Despite this setback, the topline managed to increase by 2.33% compared to the same quarter last year.
When compared to the previous quarter, Onward Technologies saw a revenue growth of 4.63%, but profit took a significant hit, decreasing by 50.02%. This quarter’s financial performance indicates ongoing struggles in maintaining profitability amidst rising costs.
The Selling, General & Administrative expenses rose sharply, increasing by 9.82% quarter-over-quarter and 8.16% year-over-year, contributing to the decline in operating income, which fell by 44.76% quarter-over-quarter and 60.57% year-over-year.
Earnings Per Share (EPS) for Q2 stood at ₹1.54, reflecting a steep decline of 63.16% year-over-year. This drop in EPS signals potential concerns for investors as the company navigates through these turbulent financial waters.
Over the last week, Onward Technologies has delivered a modest return of 3.56%, but the six-month and year-to-date returns paint a stark picture, showing losses of 15.72% and 33.05% respectively. Investors may be wary as the company faces these challenges.
Onward Technologies currently holds a market capitalization of ₹946.61 Crore, with a 52-week high of ₹740 and a low of ₹334.3, indicating significant volatility in its stock price over the past year.
As of 19 Oct, 2024, the sentiment among analysts remains cautiously optimistic, with one out of one covering analyst giving a ‘Buy’ rating on the stock. This consensus recommendation suggests some confidence in the company’s potential for recovery.
Onward Technologies Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 123.04 | 117.6 | +4.63% | 120.24 | +2.33% |
| Selling/ General/ Admin Expenses Total | 97.98 | 89.22 | +9.82% | 90.58 | +8.16% |
| Depreciation/ Amortization | 3.33 | 3.32 | +0.04% | 3.28 | +1.27% |
| Total Operating Expense | 118.42 | 109.23 | +8.41% | 108.51 | +9.13% |
| Operating Income | 4.62 | 8.37 | -44.76% | 11.73 | -60.57% |
| Net Income Before Taxes | 5.6 | 9.68 | -42.13% | 12.82 | -56.32% |
| Net Income | 3.54 | 7.09 | -50.02% | 9.57 | -62.99% |
| Diluted Normalized EPS | 1.54 | 3.09 | -50.16% | 4.18 | -63.16% |
