Responsive Industries Limited has reported a notable increase in its financial performance for the quarter ending September 30, 2024, as per the unaudited consolidated financial results. The company registered a net profit of ₹49.28 crore for Q2 FY2024, marking a 16.6% growth compared to ₹40.67 crore in the same period of the previous year.
Financial Highlights:
• Revenue from operations for the quarter rose to ₹349.52 crore, a 21.3% increase compared to ₹286.35 crore in Q2 last year. The company continues to see strong demand across its segments, driving higher revenue growth.
• Other income stood at ₹2.23 crore, a significant 60.1% rise from ₹1.39 crore in the corresponding quarter of the previous year. This growth in other income has contributed to boosting the company’s total income to ₹351.76 crore, reflecting a 22.1% year-on-year increase.
• Total expenses for the quarter increased by 20.6% to ₹294.55 crore from ₹244.31 crore in Q2 last year, primarily due to higher costs of materials consumed, which grew by 22.5%, and finance costs, which jumped 29.3% to ₹5.14 crore.
• Employee benefit expenses saw a moderate increase, climbing to ₹8.05 crore, reflecting a 5.8% rise compared to ₹7.61 crore in the previous year’s same quarter.
• Depreciation and amortization expenses also grew by 11.4%, reaching ₹34.58 crore for the quarter, up from ₹31.04 crore in Q2 last year.
• Earnings per share (EPS) increased to ₹1.85, compared to ₹1.53 in the same quarter last year, indicating solid earnings growth and improved profitability.
The overall financial performance of Responsive Industries continues to show strength in operational efficiency and revenue generation. The company remains well-positioned to sustain its growth trajectory for the remainder of the fiscal year, with a focus on optimizing costs and driving further revenue expansion.
