Indigo Paints second quarter results announced: profit fell 10.63% year-on-year

Indigo Paints second quarter results released live: Indigo Paints announced its second quarter results on November 7, 2024, showing revenue growth of 7.35% over the same period last year. However, the company’s profit fell sharply by 10.63% year-on-year.

Compared with the previous quarter, Indigo Paints’ revenue fell by 3.68% and its profit fell by 13.56%. This downward trend raises concerns about the company’s short-term performance amid revenue growth.

The company’s selling, general and administrative (SG&A) expenses decreased slightly by 1.53% month-on-month, but increased significantly by 16.61% year-on-year, indicating that rising operating costs may affect profitability.

Operating income was also adversely affected, falling 18.59% month-on-month and 15.21% year-on-year, reflecting ongoing challenges in maintaining operational efficiency.

Second quarter earnings per share (EPS) were $4.74, a decrease of 10.73% from the same period last year, further highlighting the profitability challenges faced by the company.

In terms of stock performance, Indigo Paints returned -1.05% last week, but it has shown stronger gains, returning 18.43% over the past six months and 9.24% year-to-date.

As of November 8, 2024, Indigo Paints has a market capitalization of $7755.64 Crores, a new 52-week high $1720.3 and lowest price $1250. Analysts remain divided on the stock’s potential, with six rating the company with one sell rating, two hold ratings, two buy ratings and one strong buy rating.

As of November 8, 2024, the consensus recommendation is “Buy,” indicating cautious optimism about the company’s future performance despite recent quarterly setbacks.