Ratnamani Metals & Tubes Q2 Results 2024 on 15 Nov, 2024: profit falls by 38.74% YOY, profit at ₹100.39 crore and revenue at ₹971.33 crore

Ratnamani Metals & Tubes Q2 Results 2024 on 15 Nov, 2024: profit falls by 38.74% YOY, profit at ₹100.39 crore and revenue at ₹971.33 crore

Ratnamani Metals & Tubes Q2 Results 2024:Ratnamani Metals & Tubes declared its Q2 results for 2024 on 14 Nov, 2024, revealing a significant decline in its financial performance. The company reported a revenue of 971.33 crore, representing a 14.13% decrease year-over-year, and a profit of 100.39 crore, which is down 38.74% compared to the same quarter last year.

In comparison to the previous quarter, Ratnamani’s revenue saw a decline of 17.94%, while profits decreased by 4.51%. This downturn indicates a challenging market environment for the company, which is reflected in the rising selling, general, and administrative expenses that increased by 3.52% quarter-over-quarter and 22.56% year-over-year.

The operating income also suffered, decreasing by 7.38% quarter-over-quarter and a staggering 42.32% year-over-year. The earnings per share (EPS) for Q2 stands at 14.17, which is a decline of 39.57% compared to the previous year.

In terms of stock performance, Ratnamani Metals & Tubes has experienced a -4.17% return over the past week, although it has shown an 11.84% return over the last six months and 4.64% year-to-date. The company’s market capitalization is currently at 24,668.18 crore, with a 52-week high of 3,978.5 and a low of 2,581.5.

As of 15 Nov, 2024, among the five analysts covering Ratnamani, one has given a ‘Hold’ rating, while two analysts recommend a ‘Buy’ and two others suggest a ‘Strong Buy’. The consensus recommendation indicates a positive outlook for the company despite the recent declines in revenue and profit.

Ratnamani Metals & Tubes Financials

Period Q2 Q1 Q-o-Q Growth Q2 Y-o-Y Growth
Total Revenue 971.33 1183.7 -17.94% 1131.21 -14.13%
Selling/ General/ Admin Expenses Total 74.21 71.68 +3.52% 60.55 +22.56%
Depreciation/ Amortization 25.89 26.24 -1.34% 23.59 +9.78%
Total Operating Expense 843.71 1045.91 -19.33% 909.94 -7.28%
Operating Income 127.62 137.79 -7.38% 221.27 -42.32%
Net Income Before Taxes 133.58 140.35 -4.82% 221.12 -39.59%
Net Income 100.39 105.13 -4.51% 163.89 -38.74%
Diluted Normalized EPS 14.17 15.11 -6.22% 23.45 -39.57%
Stay updated on quarterly results with our results calendar

Disclaimer: This is an AI-generated live blog and has not been edited by LiveMint staff.

#Ratnamani #Metals #Tubes #Results #Nov #profit #falls #YOY #profit #crore #revenue #crore

Comments

No comments yet. Why don’t you start the discussion?

Leave a Reply

Your email address will not be published. Required fields are marked *