Banco Products (India) Ltd has reported its financial results for the quarter ending September 30, 2024, showing strong growth in both revenue and profitability on a year-over-year (YoY) and quarter-over-quarter (QoQ) basis.
Year-over-Year (YoY) Performance
- Total Revenue from Operations increased by 24.5% YoY, reaching ₹894.93 crore in Q2 FY25, compared to ₹718.56 crore in Q2 FY24. This growth was driven by a rise in Gross Sales as well as Other Operating Income.
- Net Profit surged by 109.8% YoY, standing at ₹138.7 crore in Q2 FY25, as against ₹66.11 crore in the same quarter last year. The substantial increase in net profit highlights the company’s improved profitability due to efficient operations and cost management.
Quarter-over-Quarter (QoQ) Performance
- Total Revenue from Operations rose by 12.2% QoQ, up from ₹797.88 crore in Q1 FY25 to ₹894.93 crore in Q2 FY25. The increase reflects positive momentum in the company’s sales and operational efficiency.
- Net Profit grew by 101.9% QoQ, from ₹68.67 crore in Q1 FY25 to ₹138.7 crore in Q2 FY25, doubling the company’s profitability within a single quarter.
Breakdown of Revenue and Profit Figures
- Revenue from Operations for Q2 FY25 consists of:
- Gross Sales: ₹888.81 crore
- Other Operating Income: ₹6.12 crore
- Net Profit figures:
- Q2 FY25: ₹138.7 crore
- Q1 FY25: ₹68.67 crore
- Q2 FY24: ₹66.11 crore
Banco Products has showcased a strong financial performance this quarter, with significant gains in both revenue and profitability. The growth in revenue and the impressive rise in net profit indicate the company’s effective strategies in driving sales and controlling costs, positioning it for sustained success.
Disclaimer: This article is for informational purposes only and should not be considered as financial advice. Please consult a financial advisor before making any investment decisions.
