Triveni Engineering Q2 results: Net profit slumps 98% to ₹29.1 crore
Triveni Engineering & Industries slumped by 98 percent on-year to ₹29.1 crore in the second quarter of fiscal year 2023-24 (Q2FY24), as per the financial results declared by the company on October 30. In the year-ago period, the net profit stood at ₹1,388 crore. Sequentially, the net profit dropped by 57 percent from ₹67.6 crore reported in the June 2023 quarter.
The company's revenue from operations in Q2FY24 came in at ₹1,671.4 crore, which is 10 percent higher as compared to ₹1,471.6 crore reported in the corresponding quarter of the previous fiscal. As compared to the preceding quarter, the revenue from operations jumped by 13 percent as it stood at ₹1,432.2 crore in Q1FY24. Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! Triveni Engineer's earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at ₹63 crore in the September 2023 quarter, up by 38.8 percent as compared to ₹45.4 crore in the year-ago period.
The company's margin widened to 3.9 percent in Q2FY24, as against 3.1 percent in Q2FY23. The total expenses clocked by Triveni Engineering during the quarter under review was ₹1,590.4 crore, higher as compared to ₹1,353.4 crore in the preceding quarter and ₹1,466.8 crore in the year-ago period. The total comprehensive income recorded in Q2FY24 stood at ₹29.08 crore, lower as compared to ₹68.08 crore in Q1FY24 and ₹1,388.1 crore in Q2FY23.
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