Alok Industries announced its Q2 results on October 14, 2024, revealing a sharp decline in financial performance. The company’s revenue dropped by 35.46% year-over-year (YoY), while its losses escalated by 49.92% compared to the same period last year.
Quarter-on-quarter (QoQ), the company saw an 11.99% drop in revenue, accompanied by a 26.7% rise in losses. These figures signal a concerning trend, raising alarm among investors and stakeholders.
Despite the fall in revenue, Alok Industries managed to reduce its selling, general, and administrative expenses, with a slight 1.91% decline QoQ and a more significant 6.17% reduction YoY. However, these cost-cutting measures were insufficient to compensate for the drop in sales.
The company’s operating income saw a steep decline, falling by 108.11% QoQ and 176.84% YoY, underscoring the tough market conditions Alok Industries faces.
The earnings per share (EPS) for Q2 stood at ₹-0.53, marking a 51.43% decrease YoY, which raises concerns about the company’s profitability and growth potential.
In terms of stock performance, Alok Industries delivered a 0.74% return over the past week. However, the stock has struggled over the last six months with a -8.81% return, despite achieving a 15.32% positive return year-to-date
