2024-11-09 12:37:36 :
Great Eastern Line second quarter results released live: Great Eastern Line announced its second quarter results on November 7, 2024, showing mixed results for the quarter. The company’s revenue increased significantly by 10.2% year-on-year; but profits took a hit, falling by 3.21% year-on-year.
In a month-on-month analysis, the company’s revenue fell by 10.2%, and its profits dropped significantly by 29.11%. The numbers point to the challenging environment the company faced in its most recent quarter.
Selling, general and administrative (SG&A) expenses decreased slightly by 0.53% from the previous quarter, but increased by 7.19% year-on-year. Increases in expenses could lead to an overall decrease in profitability.
Operating income also suffered a setback, falling 33.41% month-on-month, but still increasing 8.81% year-on-year, indicating that operations faced some challenges in the latest quarter.
Second quarter earnings per share (EPS) were $31.28, a decrease of 2.18% compared with the same period last year. A drop in earnings per share could raise investor concerns about the company’s profitability.
In terms of market performance, Great Eastern Line returned 0.17% last week, compared with returns of 33.28% over the past six months, and an impressive year-to-date return of 32.23%.
As of now, the company’s market capitalization is $Rs 18,439.81 Crore, a new 52-week high $1543.7 and lowest price $727.5, indicating volatile trading conditions.
On the analyst front, of the two analysts covering the company as of November 9, 2024, one has a Buy rating and another has a Strong Buy rating. The consensus recommendation is “Strong Buy,” reflecting the positive sentiment among market experts.
Elsewhere, Great Eastern Line declares interim dividend $7.2, the registration date and ex-dividend date are set as November 20, 2024. Amid mixed quarterly results, this dividend announcement may provide some reassurance to shareholders.
Great Eastern Line Financial Conditions
| period | Q2 | Q1 | month-on-month growth | Q2 | year-on-year growth |
|---|---|---|---|---|---|
| total revenue | 1354.4 | 1508.23 | -10.2% | 1229.02 | +10.2% |
| Total Selling/General/Administrative Expenses | 239.55 | 240.83 | -0.53% | 223.49 | +7.19% |
| Depreciation/Amortization | 205.51 | 197.05 | +4.29% | 186.74 | +10.05% |
| total operating expenses | 890.45 | 811.46 | +9.73% | 802.64 | +10.94% |
| operating income | 463.95 | 696.77 | -33.41% | 426.38 | +8.81% |
| net income before tax | 609.75 | 847.97 | -28.09% | 611.93 | -0.36% |
| net income | 575.57 | 811.94 | -29.11% | 594.66 | -3.21% |
| Diluted normalized earnings per share | 31.28 | 52.22 | -40.1% | 31.98 | -2.18% |
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