Swaraj Engines Q2 FY24 results: profit rise by 4.99% YOY

livemint.com:

Swaraj Engines, a leading company in the automotive industry, has announced its financial results for the second quarter of fiscal year 2024. The company reported a 1.08% increase in revenue and a 4.99% increase in profit compared to the same period last year. This growth demonstrates the company's strong performance and ability to generate positive returns.

However, when compared to the previous quarter, Swaraj Engines experienced a decline in revenue by 2.73% and a decrease in profit by 7.94%. This could be attributed to various factors such as market conditions and operational challenges. Despite the decrease, the company remains optimistic about its future prospects and is actively working towards improving its financial performance.

One key factor contributing to Swaraj Engines' financial results is its selling, general, and administrative expenses, which rose by 5.81% quarter-on-quarter and increased by 7.06% year-on-year. This indicates that the company is investing in its operations and infrastructure to support its growth strategies. Another important metric, the operating income, saw a decrease of 6.14% quarter-on-quarter but increased by 3.47% year-on-year.

This shows that the company has been able to maintain a stable operating performance despite the challenging market conditions. In terms of earnings per share (EPS), Swaraj Engines reported ₹31.01 for the second quarter of fiscal year 2024, representing a 4.98% increase compared to the same period last year. This indicates that the company's profitability is improving and it is delivering value to its shareholders.