Shares of Jyoti Structures Limited fell close to 5% following the release of its financial results for the second quarter ending September 30, 2024. The company’s performance reflected a mixed outcome with higher sales but a decline in net income compared to the same period last year.
For Q2, Jyoti Structures reported sales of ₹1,074.93 million, up from ₹814.64 million a year ago, while revenue increased to ₹1,092.93 million from ₹843.55 million. However, net income dropped to ₹70.63 million, down from ₹111.96 million last year. The basic earnings per share from continuing operations decreased to ₹0.084 from ₹0.161, with diluted EPS also declining to ₹0.08 from ₹0.159.
For the first half of the year, the company’s sales were ₹1,957.86 million, compared to ₹2,666.3 million in the prior period. Revenue dropped to ₹1,988.9 million from ₹2,700.08 million, and net income was down slightly at ₹121.54 million from ₹136.54 million. Basic earnings per share for the six months stood at ₹0.144 compared to ₹0.198, with diluted EPS at ₹0.138 versus ₹0.194 last year.
This decline in earnings and profitability has impacted investor sentiment, reflected in the stock’s recent drop. The results highlight ongoing challenges for Jyoti Structures in sustaining profit levels amidst fluctuating revenue and sales performance.
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