Second quarter results of Pipava Port in Gujarat released immediately: Pipava Port in Gujarat has announced its second quarter results on November 6, 2024, showing a worrying decline in financial performance. The company reported that revenue fell by 10.12% year-on-year and profit fell by 18.19% year-on-year.
Compared with the previous quarter, the financial situation further declined, with revenue falling by 7.7% and profit falling significantly by 31.17%. The downturn highlights the company’s ongoing challenges in maintaining profitability amid volatile market conditions.
The company’s selling, general and administrative (SG&A) expenses increased by 2.14% from the previous quarter and 6.84% from the same period last year. The increase in expenses may lead to an overall decrease in operating income, which dropped 14.15% from the previous quarter and 17.52% year-on-year.
Second quarter earnings per share (EPS) were $1.56, a decrease of 16.28% compared with the same period last year. The decline in earnings per share further highlights the challenges faced by Pipavav Port in Gujarat in delivering shareholder value.
The stock has seen a modest decline of -0.16% over the past week and a steeper loss of -4.25% over the past six months. However, year to date, the stock has a positive return of 27.76%. As of now, the company’s market capitalization is $9,452.7 Crore, a new 52-week high $250.69 and lowest price $125.75.
As of November 7, 2024, analyst sentiment is mixed, with 2 analysts assigning a Strong Sell rating, 2 analysts assigning a Sell rating, 4 analysts recommending a Hold, and 3 recommending a Buy . The consensus recommendation is Hold, indicating caution on the stock’s recent performance.
Pipavav Port Finance, Gujarat
| period | Q2 | Q1 | Quarterly growth | Q2 | annual growth |
|---|---|---|---|---|---|
| total revenue | 227.04 | 245.98 | -7.7% | 252.61 | -10.12% |
| Total Selling/General/Administrative Expenses | 21.21 | 20.77 | +2.14% | 19.85 | +6.84% |
| Depreciation/amortization | 29.14 | 29.05 | +0.28% | 28.79 | +1.18% |
| total operating expenses | 123.61 | 125.49 | -1.5% | 127.2 | -2.82% |
| operating income | 103.43 | 120.48 | -14.15% | 125.41 | -17.52% |
| net income before tax | 126.42 | 143.79 | -12.08% | 145.65 | -13.2% |
| net income | 75.49 | 109.67 | -31.17% | 92.28 | -18.19% |
| Diluted normalized earnings per share | 1.56 | 2.27 | -31.28% | 1.86 | -16.28% |
