Fine Organic's Q2FY24 Financial Performance Review
In this financial performance review, we delve into the results of Fine Organics for the second quarter of fiscal year 2024 and analyze key metrics, including revenue, expenses, net profit, and margin.
| Particulars | Q2FY23 | YoY (% change) | Q1FY24 | QoQ (% change) | Q2FY24 |
| Total Income (₹crs.) | 938.51 | -40.58 | 516.62 | 7.94 | 557.64 |
| Expenses (₹crs.) | 678.04 | -37.38 | 418.32 | 1.49 | 424.56 |
| Net Profit (₹crs.) | 202.62 | -48.99 | 99.76 | 3.61 | 103.36 |
| Margin (%) | 21.59 | -3.05 | 19.31 | -0.77 | 18.54 |
REVENUE:
Fine Organics reported a total revenue of ₹557.64 crores for Q2FY24. This represents a significant increase of 7.94% sequentially. However, year-on-year, the company experienced a substantial decline of -40.58%.
EXPENSES:
The company recorded expenses amounting to ₹424.56 crores in Q2FY24, reflecting a minor 1.49% seqeuntially. Year-on-year, expenses have decreased by -37.38% compared to ₹678.04 crores.
NET PROFIT:
In the second quarter of fiscal year 2024, Fine Organics reported a net profit of ₹103.36 crores, demonstrating a modest 3.61% to Q1FY24. Nevertheless, the net profit has seen a considerable decline of -48.99% compared to the net profit in Q2FY23.
MARGINS:
The margin for Q2FY24 is 18.54%, reflecting a marginal decrease of -0.77% compared to Q1FY24. Year-on-year, the margin has declined by -3.05% from 21.59% in Q2FY23.
In conclusion, Fine Organics' financial performance in the second quarter of fiscal year 2024 shows a mixed picture. While the company managed to increase its revenue compared to the previous quarter, the year-on-year revenue decline remains significant.
The marginal increase in net profit is promising but may require further growth to offset the substantial YoY decline. Expense management has improved compared to the previous year.
Stay tuned for more updates on upcoming financial performances.