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Coromandel's Q2FY24 Financial Performance Review

Oct 26, 2023

By: BlinkX Research Team

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.

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.