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Sapphire Foods' Q2FY24 Financial Performance Review

Nov 2, 2023

By: BlinkX Research Team

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.

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.