Automobile Corporation of Goa Reports 4% Decline in Q2 Net Profit; Revenue Sees 5.2% Growth

Automobile Corporation of Goa Reports 4% Decline in Q2 Net Profit; Revenue Sees 5.2% Growth

Automobile Corporation of Goa Ltd has announced a 4% year-on-year (YoY) decline in its net profit for the second quarter of FY24, recording ₹7.3 crore as compared to ₹7.6 crore in the same period last year, as per its regulatory filing.

As of November 5, 2024, the company’s shares were trading at ₹2,285, reflecting a 7% dip from the previous close. Despite this, the stock has seen a robust performance, gaining 52% in the past year and 61% since the beginning of 2024.

The company reported a 5.2% increase in revenue from operations, amounting to ₹129 crore, compared to ₹122.5 crore in Q2 of the previous fiscal year.

However, EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) saw a 12% YoY drop, standing at ₹6 crore for the quarter, compared to ₹6.8 crore in the same period last year. The EBITDA margin also slipped to 4.6%, lower than the 5.5% margin recorded in the corresponding quarter of the previous year.