Triveni Engineering And Industries Q2fy24 Financial Performance Review

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Triveni Engineering and Industries' Q2FY24 Financial Performance Review

ri-calendar-2-lineOct 31, 2023

By: BlinkX Research Team

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

 

ParticularsQ2FY23YoY (% change)Q1FY24QoQ (% change)Q2FY24
Total Income (₹crs.)1,483.339.871,444.4712.831,629.73
Expenses (₹crs.)1,466.818.431,353.4417.511,590.40
Net Profit (₹crs.)24.4859.9791-56.9739.16
Margin (%)1.650.756.30-3.902.40

 

REVENUE: 
Triveni Engineering and Industries reported a total revenue of ₹1,629.73 crores for Q2FY24. This marks a noteworthy increase of 12.83% sequentially. Year-on-year, the company experienced a positive growth of 9.87%.

 

EXPENSES: 
The company recorded expenses amounting to ₹1,590.40 crores in Q2FY24, reflecting a significant quarterly increase of 17.51%. Year-on-year, expenses have increased by 8.43% compared to ₹1,466.81 crores in Q2FY23.

 

NET PROFIT: 
In Q2FY24, the company reported a net profit of ₹39.16 crores, showing a substantial decline of -56.97% compared to the net profit of ₹91 crores in the preceding quarter. Nevertheless, the net profit has shown strong year-on-year growth of 59.97% year-on-year.

 

MARGINS: 
The margin for Q2FY24 is 2.40%, which is a significant decrease from the margin of 6.30% in the preceding quarter, Q1FY24. Year-on-year, the margin has increased from 1.65% in Q2FY23 to 2.40% in Q2FY24.

 

In conclusion, Triveni Engineering and Industries' financial performance in the second quarter of FY24 reflects strong revenue growth year-on-year. However, expenses have also increased, impacting the net profit, which experienced a sharp decline compared to the previous quarter. 

 

It is essential for the company to manage expenses efficiently to ensure that profitability aligns with revenue growth. The improvement in year-on-year margins is a positive sign. 

 

Stay tuned for more updates on upcoming financial performances.

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