Lloyds Engineering Works Limited (formerly known as Lloyds Steels Industries Limited) has posted impressive financial results for the second quarter ending September 30, 2024. The company reported a strong performance with both revenue from operations and net profit showing significant growth on a year-on-year (YoY) and quarter-on-quarter (QoQ) basis.
Revenue from Operations
For Q2 FY24, Lloyds Engineering reported revenue from operations of ₹212.15 crore, which marks a substantial 74% year-on-year increase compared to ₹121.78 crore in Q2 FY23. On a quarter-on-quarter basis, the revenue surged by 56% from ₹135.42 crore in the previous quarter (Q1 FY24).
Net Profit
The company’s net profit for Q2 FY24 stood at ₹27.94 crore, representing a 49% year-on-year increase compared to ₹18.79 crore in Q2 FY23. On a quarter-on-quarter basis, the net profit jumped by 32% from ₹21.22 crore reported in Q1 FY24.
These results demonstrate Lloyds Engineering Works’ strong financial health and its ability to maintain significant growth, positioning the company for further success in the coming quarters.
