Finolex Industries has announced its financial results for the second quarter ended September 30, 2024 (Q2 FY25), showing a significant decline in both revenue from operations and net profit on a year-on-year (YoY) and quarter-on-quarter (QoQ) basis.
Key Financial Highlights:
Revenue from Operations:
- For Q2 FY25, the company reported revenue from operations of ₹828.43 crore.
- On a QoQ basis, revenue saw a decline of 27.4% compared to ₹1,140.49 crore in Q1 FY25.
- YoY, revenue decreased by 6.2% from ₹883.15 crore in Q2 FY24.
Net Profit:
- The net profit for Q2 FY25 stood at ₹40.67 crore.
- Compared to Q1 FY25, where net profit was ₹500.73 crore, the company experienced a sharp decline of 91.9%.
- On a YoY basis, net profit fell by 58.5% from ₹97.96 crore in Q2 FY24.
These results reflect a challenging quarter for Finolex Industries, with declines in both revenue and profitability across the board. The company will likely be focusing on strategic initiatives to address these challenges moving forward.
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