Eureka Forbes Q2 Results: Net profit shoots up 83% YoY to Rs 46 crore, revenue up 27%
Pratik Pota, chief executive and managing director of Eureka Forbes said, “Growth continued to be broad-based and product business grew in excess of 20%. The impact of growth led to operating leverage benefits and despite the sharp step up in advertising investments, adjusted EBITDA margin expanded 106 bps and Profit after Tax grew 83% year on year.”
The quarterly performance is driven by innovations across water and cleaning, increased marketing investments and the onset of an earlier festive season, Pota added.
The Aquaguard-maker said that the water purifier industry is poised to grow at a CAGR of 13% to Rs 10,200 crore in FY2030 from Rs 4,350 crore in FY2023. Vacuum Cleaner Market is expected to grow at 17% CAGR to Rs 1,548 crore in FY2030 from Rs 509 in FY2023. The air purifier industry is estimated to grow at 18% CAGR to Rs 747 crore in FY2030 from Rs 230 crore in FY2023.
The shares of the company closed at Rs 634.65 apiece, up by 7.04% on BSE on Thursday, when the benchmark Sensex fell by 1.04%.
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