Indigo Paints Q3 FY24 Results Live: Profit Rise by 41.88% YoY
Indigo Paints, a leading paint company, has declared their Q3 FY24 results on 09 Feb, 2024. The company has witnessed a significant growth in both revenue and profit compared to the previous year. The topline increased by 25.78% YoY, while the profit rose by 41.88% YoY.
In comparison to the previous quarter, the revenue saw a growth of 26.79%, and the profit increased by 47.05%. This indicates a strong performance and consistent growth for Indigo Paints.
The Selling, general & administrative expenses also showed an increase, rising by 3.34% quarter-on-quarter and 30.18% year-on-year. This can be attributed to the company’s expansion and investment in marketing and operational activities.
Furthermore, the operating income witnessed a significant boost, with a 54.44% increase quarter-on-quarter and a 49.56% increase year-on-year. This indicates improved operational efficiency and cost management by Indigo Paints.
The earnings per share (EPS) for Q3 FY24 stood at ₹7.81, showing a 42% year-on-year increase. This indicates positive growth and profitability for the company.
In terms of stock performance, Indigo Paints delivered a 1.46% return in the last 1 week, -8% return in the last 6 months, and -3.23% year-to-date return. This indicates some volatility in the stock market.
Currently, Indigo Paints has a market capitalization of ₹6868.38 Cr and a 52-week high/low of ₹1679.95 and ₹981.95 respectively. This showcases the company’s stability and market presence.
Analysts have been covering the company, and as of 11 Feb, 2024, out of 6 analysts, 1 has given a Strong Sell rating, 1 has given a Sell rating, 2 have given a Hold rating, 1 has given a Buy rating, and 1 has given a Strong Buy rating.
The consensus recommendation as of 11 Feb, 2024, is to Hold the stock. This suggests a cautious outlook by analysts towards the company’s future performance.
| Period | Q3 FY24 | Q2 FY24 | Q-o-Q Growth | Q3 FY23 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 353.77 | 279.02 | +26.79% | 281.27 | +25.78% |
| Selling/ General/ Admin Expenses Total | 26.35 | 25.5 | +3.34% | 20.24 | +30.18% |
| Depreciation/ Amortization | 14.61 | 11.29 | +29.4% | 8.71 | +67.74% |
| Total Operating Expense | 306.14 | 248.18 | +23.36% | 249.42 | +22.74% |
| Operating Income | 47.63 | 30.84 | +54.44% | 31.85 | +49.56% |
| Net Income Before Taxes | 50.07 | 33.46 | +49.65% | 35.33 | +41.74% |
| Net Income | 37.26 | 25.34 | +47.05% | 26.26 | +41.88% |
| Diluted Normalized EPS | 7.81 | 5.31 | +47.08% | 5.5 | +42% |
FAQs
Question : What is the Q3 FY24 profit/Loss as per company?
Ans : ₹37.26Cr
Question : What is Q3 FY24 revenue?
Ans : ₹353.77Cr
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Published: 11 Feb 2024, 03:45 AM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.