2024-11-14 12:29:19 :
Thermax Second Quarter 2024 Results: Thermax announced its second quarter results on November 13, 2024, showing strong performance with revenue growing 13.43% year over year. The company’s profit increased significantly by 24.92%, reaching $1970.3 Crores while the revenue reached $2611.59 Crores.
Compared with the previous quarter, Thermax saw significant growth, with revenue increasing by 19.56% and profits soaring by 70.13%. This strong performance points to the company’s positive trajectory for the current financial year.
The company’s sales, general and administrative expenses increased by 10.83% month-on-month and 13.59% year-on-year. Despite increasing expenses, operating income increased by 124.41% month-on-month and 37.42% year-on-year, demonstrating the company’s efficiency in cost management during growth.
Earnings per share (EPS) for the quarter were $17.49, a year-on-year increase of 24.93%. Positive earnings per share growth is likely to bolster investor confidence in Thermax’s financial health.
In terms of stock performance, Thermax stock returned -3.5% last week and -3.53% over the past six months, although it has returned an impressive 59.28% so far this year. Thermax’s current market capitalization is $55,281.93 crore rupees, a new 52-week high $5839.95 and lowest price $2500.25.
Of the 19 analysts covering Thermax as of November 14, 2024, ratings are mixed, with 1 analyst assigning a Strong Sell rating, 8 recommending Sell, and 6 recommending Hold, 2 analysts rate the stock with a Buy rating, while 2 rate the stock with a Buy rating and a Strong Buy rating. The consensus recommendation remains Hold.
Overall, Thermax’s second-quarter results reflected solid financial results despite external challenges, positioning the company well for future growth.
Disclaimer: This is an AI-generated live blog and has not been edited by LiveMint staff.
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