Jai Balaji Industries Limited announced its standalone financial results for the second quarter of FY24, highlighting a steady year-on-year (YoY) growth in revenue and profit. The revenue from operations rose by 0.65% YoY to ₹1,556.57 crore compared to ₹1,546.63 crore in the corresponding quarter of the previous year. On a quarter-on-quarter (QoQ) basis, the revenue decreased by 9.42% from ₹1,718.31 crore in Q1 FY24.
Profit Performance: The company reported a profit before exceptional items and tax of ₹212.74 crore, marking a YoY growth of 5.57% from ₹201.55 crore in Q2 FY23. However, on a QoQ basis, there was a decline in profit by 25.99% from ₹287.29 crore in the previous quarter.
Six-Month Summary: For the six months ended September 30, 2024, Jai Balaji Industries recorded a revenue of ₹3,274.88 crore, which showed a slight increase from ₹3,029.19 crore in the same period last year. The profit for the six months stood at ₹371.98 crore, compared to ₹500.03 crore for the same period last year, indicating a YoY decline.
This performance reflects Jai Balaji Industries’ resilience in a competitive market, maintaining revenue growth YoY while facing QoQ challenges.