Coromandel's Q2FY24 Financial Performance Review

In this financial performance review, we delve into the results of Coromandel for the second quarter of fiscal year 2024 and analyze key metrics, including revenue, expenses, net profit, and margin.

 

ParticularsQ2FY23(Y-o-Y) % changeQ1FY24(Q-o-Q) % changeQ2FY24
Total Income (₹crs.)10,144-30.685,73722.577,032
Expenses (₹crs.)9,156-34.155,07218.876,029
Net Profit (₹crs.)740.01.8949452.63754
Margin (%)7.293.438.612.1110.72

 

REVENUE: 
Coromandel reported a total income of ₹7,032 crores for Q2FY24. This reflects a significant change, with a -30.68% decrease compared to the same quarter in the previous fiscal year. However, there was a notable increase of 22.57% when compared to the preceding quarter.

 

EXPENSES: 
Expenses for the company in Q2FY24 amounted to ₹6,029 crores, which marked a -34.15% decrease compared to the same quarter in the previous fiscal year, Q2FY23. On a quarter-on-quarter basis, expenses increased by 18.87%.

 

NET PROFIT: 
The net profit of Coromandel for Q2FY24 was ₹754 crores, showcasing a substantial improvement. This represents a 52.63% growth compared to the preceding quarter, Q1FY24. On a year-on-year basis, there was a modest increase of 1.89%.

 

MARGINS: 
Coromandel's margin in Q2FY24 was 10.72%. This figure reflects a significant improvement compared to the previous quarter when the margin was 8.61%. Year-on-year, the company has shown consistent growth in margins, with a 3.43% increase.

 

In conclusion, Coromandel's financial performance in Q2FY24 showcases a strong recovery. While the company faced a challenging year-on-year comparison, the significant increase in revenue (owing it to a global slowdown) from the previous quarter, along with improved margins, indicates a positive trajectory. The notable growth in net profit during the quarter is a key highlight. 

 

Stay tuned for more detailed updates on Coromandel's financial performance in the coming quarters.

Top stories
Company

Aurobindo Pharma to Consider Share Buyback Worth Rs 750 Cr

3 mins read . 19 Jul 2024 . 05:22 AM

Company

3 mins read . 19 Jul 2024 . 05:19 AM

Related Blogs
blog-logo

Share Market

blog-logo

15 mins read . 08 Jul 2024

Best Oil & Gas Stocks in India

  • 1 people read
blog-logo

Share Market

blog-logo

11 mins read . 08 Jul 2024

How to Withdraw SIP Amount?

  • 1 people read
Kickstart your equities journey today You've got this
By submitting this I agree to the terms & conditions