Raymond Q2 Results Live : Raymond declared their Q2 results on 04 Nov, 2024, revealing a significant decline in financial performance. The company’s topline decreased by 53.64% year-over-year, while profit fell sharply by 62.43% during the same period. Compared to the previous quarter, revenue showed a slight recovery, growing by 11.42%, though profit experienced a staggering decrease of 99.19%.
The selling, general, and administrative expenses saw a quarter-over-quarter increase of 6.51%, but a notable decrease of 54.95% year-over-year. Despite the overall downturn, operating income improved by 22.56% compared to the last quarter, although it still represented a substantial decline of 66.48% year-over-year.
Earnings per share (EPS) for Q2 stood at ₹9.01, reflecting a decrease of 66.18% year-over-year. This significant drop in profitability raises concerns among investors about the company’s operational efficiency and market position.
Despite the challenging quarter, Raymond has shown resilience in its stock performance, delivering a return of 7.65% over the past week, 27.46% over the last six months, and an impressive 62.14% year-to-date return. The company’s current market capitalization stands at ₹11,229.22 Cr, with a 52-week high of ₹2,380 and a low of ₹898.38.
As of 05 Nov, 2024, analysts remain optimistic about Raymond’s potential. Out of the three analysts covering the company, one has given a Hold rating while two have assigned a Strong Buy rating. The consensus recommendation as of the same date indicates a Strong Buy, suggesting that analysts believe the company’s stock may rebound in the near future.
