Sapphire Foods' Q2FY24 Financial Performance Review

In this financial performance review, we delve into the results of Sapphire Foods for Q2FY24 and analyze key metrics, including revenue, expenses, net profit, and margin.

 

ParticularsQ2FY23YoY (% change)Q1FY24QoQ (% change)Q2FY24
Total Income (₹crs.)569.9014.07661.80-1.77650.10
Expenses (₹crs.)542.9015.8628.200.08628.70
Net Profit (₹crs.)26.86-43.3724.87-38.8415.21
Margin (%)4.71-2.373.76-1.422.34

 

REVENUE:
Sapphire Foods reported a total income of ₹650.10 crores in Q2FY24, reflecting a slight decline of 1.77% compared to the preceding quarte. On a year-on-year (YoY) basis, there was notable growth of 14.07% from ₹569.90 crores in Q2FY23.

 

EXPENSES: 
The company's total expenses for Q2FY24 amounted to ₹628.70 crores, mirroring a marginal increase of 0.08% compared to the expenses in the preceding quarter. On a YoY basis, expenses increased by 15.8%.

 

NET PROFIT: 
In the second quarter of fiscal year 2024, Sapphire Foods reported a net profit of ₹15.21 crores, indicating a significant decline of 38.84% compared to the net profit of ₹24.87 crores in Q1FY24. On a YoY basis, the company experienced a 43.37% decrease in profitability.

 

MARGINS: 
Sapphire Foods' margin in Q2FY24 was 2.34%, representing a decrease compared to the margin of 3.76% in the preceding quarter, Q1FY24. Year-on-year, the margin displayed a decline from the margin of 4.71% in Q2FY23.

 

In conclusion, Sapphire Foods' financial performance in the second quarter of fiscal year 2024 reveals a decline in both revenue and profitability compared to the preceding quarter, likely influenced by increased expenses. The margin also witnessed a reduction, suggesting a challenging operating environment for the company.

 

Stay tuned for more updates on upcoming financial performances.

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