Jai Balaji Industries Limited saw its shares fall over 2% after the release of its Q2 financial results. Despite the modest year-on-year (YoY) growth in revenue, the quarter-over-quarter (QoQ) results showed a decline.
The company reported a slight 0.65% YoY increase in revenue, totaling ₹1,556.57 crore, up from ₹1,546.63 crore in Q2 FY23. However, revenue fell by 9.42% QoQ from ₹1,718.31 crore in Q1 FY24. Profit before exceptional items and tax was ₹212.74 crore, marking a YoY growth of 5.57% from ₹201.55 crore in Q2 FY23 but a QoQ decline of 25.99% from ₹287.29 crore in the previous quarter.
As of 2:46 pm, Jai Balaji Industries shares were trading 2.16% lower at Rs 999.95 on the NSE.
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