Gillette Stock Surges 10% After Strong Q2 FY24 Results
29 Oct, 11:47 AM (GMT+5:30)
2 Min
Summary
On October 28, Gillette India Limited announced its financial results for the quarter ending September 30, 2024, showcasing solid growth across key financial metrics, which led to a positive market response. Following the announcement, Gillette’s stock surged by 10% on Tuesday, October 29, reflecting investor confidence in the company's robust performance.
Key Takeaways from the Share Price Surge
- The company achieved 17.1% YoY growth, reaching ₹781.82 crores in Q2 FY24.
- Total expenses increased by 11% YoY, reflecting careful cost allocation.
- Earnings Per Share (EPS): EPS increased to ₹40.82, compared to ₹28.44 in the previous year’s quarter.
For Q2 FY24, revenue from operations grew to ₹781.82 crores, marking a 17.1% increase from ₹667.55 crores in the same quarter last year. Total income also rose substantially to ₹788.87 crores, up by 16.6% from ₹676.19 crores reported in Q2 FY23, supported by additional income sources.
Despite rising operational costs, Gillette maintained effective cost management. Total expenses for the quarter stood at ₹611.62 crores, a 11% increase from ₹551.03 crores in Q2 FY23. The increase in expenses was driven by higher advertising, sales promotion, and raw material costs.
Gillette reported a profit before tax (PBT) of ₹177.25 crores, a notable 41.6% increase from ₹125.16 crores in the previous year’s corresponding quarter. After accounting for tax expenses, the net profit after tax (PAT) rose significantly to ₹133.01 crores, a 43.5% increase compared to ₹92.69 crores in Q2 FY23.
This impressive performance translated into higher earnings per share (EPS), with basic and diluted EPS for the quarter reaching ₹40.82, up from ₹28.44 in the same period last year.
About Gillette India Limited
Gillette India Limited, incorporated under the Companies Act 1956, manufactures and sells FMCG products in the grooming and oral care segments. The company’s portfolio includes renowned brands like Fusion5, SkinGuard Sensitive, MACH3, Guard3, Styler, and Presto, offering razors, blades, shaving gel, cream, and aftershave through diverse retail channels such as drugstores, department stores, and mass merchandisers.
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Federal Bank Stock Rises by 7% Following Strong Q2 FY24 Results
- 29 Oct, 11:50 AM (GMT+5:30)
- 2 Min
Summary
On October 28, Federal Bank Limited announced its consolidated financial results for the quarter ending September 30, 2024 (Q2 FY24), showcasing substantial growth in both income and profitability metrics compared to the same quarter last year. The strong performance led to a 7% surge in Federal Bank’s stock on October 29 as investors responded positively to the bank’s results.
Key Takeaways from the Share Price Surge
- Interest earned grew by 21% year-over-year (YoY) to ₹7,005.66 crore, primarily due to increased advances and higher investment income.
- The bank effectively managed expenses, with total expenses rising by 23.3% YoY to ₹6,346.10 crore, maintaining cost efficiency.
- Earnings per share (EPS) increased to ₹4.48, up from ₹4.29 in Q2 FY23, reinforcing consistent earnings growth for Federal Bank’s shareholders.
In Q2 FY24, interest earned rose to ₹7,005.66 crore, a 21% increase from ₹5,791.24 crore in the same quarter last year. This growth was primarily driven by an increase in interest on advances which climbed to ₹5,667.31 crore, a rise of 20.8% YoY from ₹4,691.41 crore in Q2 FY23.
Additionally, income from investments increased to ₹1,134.86 crore, marking a 27.2% YoY growth from ₹892.37 crore. Total income for the quarter reached ₹8,015.29 crore, up 22.4% YoY from ₹6,548.20 crore.
The bank also managed to maintain efficient cost control, with total expenses growing to ₹6,346.10 crore, up 23.3% YoY from ₹5,147.92 crore in Q2 FY23. Operating profit improved to ₹1,569.19 crore, a growth of 12% YoY from ₹1,400.28 crore, reflecting strong operational efficiency.
Profit before tax (PBT) rose to ₹1,473.05 crore, a 9.8% YoY increase from ₹1,342.71 crore in Q2 FY23. Net profit after tax (PAT) stood at ₹1,104.46 crore, reflecting a 10.4% YoY growth compared to ₹1,000.16 crore in the same quarter last year. Additionally, the earnings per share (EPS) rose to ₹4.48, compared to ₹4.29 in Q2 FY23, underscoring solid profitability for Federal Bank.
About Federal Bank Limited
Incorporated in 1931 as Travancore Federal Bank Limited, The Federal Bank Limited provides a wide range of banking services, including retail and corporate banking, para banking activities like debit card issuance and third-party product distribution, as well as treasury and foreign exchange services. It is Kerala’s largest private sector bank and the state’s second-largest bank overall.
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Federal Bank Stock Rises by 7% Following Strong Q2 FY24 Results
- 29 Oct, 11:50 AM (GMT+5:30)
- 2 Min
Summary
On October 28, Federal Bank Limited announced its consolidated financial results for the quarter ending September 30, 2024 (Q2 FY24), showcasing substantial growth in both income and profitability metrics compared to the same quarter last year. The strong performance led to a 7% surge in Federal Bank’s stock on October 29 as investors responded positively to the bank’s results.
Key Takeaways from the Share Price Surge
- Interest earned grew by 21% year-over-year (YoY) to ₹7,005.66 crore, primarily due to increased advances and higher investment income.
- The bank effectively managed expenses, with total expenses rising by 23.3% YoY to ₹6,346.10 crore, maintaining cost efficiency.
- Earnings per share (EPS) increased to ₹4.48, up from ₹4.29 in Q2 FY23, reinforcing consistent earnings growth for Federal Bank’s shareholders.
In Q2 FY24, interest earned rose to ₹7,005.66 crore, a 21% increase from ₹5,791.24 crore in the same quarter last year. This growth was primarily driven by an increase in interest on advances which climbed to ₹5,667.31 crore, a rise of 20.8% YoY from ₹4,691.41 crore in Q2 FY23.
Additionally, income from investments increased to ₹1,134.86 crore, marking a 27.2% YoY growth from ₹892.37 crore. Total income for the quarter reached ₹8,015.29 crore, up 22.4% YoY from ₹6,548.20 crore.
The bank also managed to maintain efficient cost control, with total expenses growing to ₹6,346.10 crore, up 23.3% YoY from ₹5,147.92 crore in Q2 FY23. Operating profit improved to ₹1,569.19 crore, a growth of 12% YoY from ₹1,400.28 crore, reflecting strong operational efficiency.
Profit before tax (PBT) rose to ₹1,473.05 crore, a 9.8% YoY increase from ₹1,342.71 crore in Q2 FY23. Net profit after tax (PAT) stood at ₹1,104.46 crore, reflecting a 10.4% YoY growth compared to ₹1,000.16 crore in the same quarter last year. Additionally, the earnings per share (EPS) rose to ₹4.48, compared to ₹4.29 in Q2 FY23, underscoring solid profitability for Federal Bank.
About Federal Bank Limited
Incorporated in 1931 as Travancore Federal Bank Limited, The Federal Bank Limited provides a wide range of banking services, including retail and corporate banking, para banking activities like debit card issuance and third-party product distribution, as well as treasury and foreign exchange services. It is Kerala’s largest private sector bank and the state’s second-largest bank overall.
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Gillette Stock Surges 10% After Strong Q2 FY24 Results
- 29 Oct, 11:47 AM (GMT+5:30)
- 2 Min
Summary
On October 28, Gillette India Limited announced its financial results for the quarter ending September 30, 2024, showcasing solid growth across key financial metrics, which led to a positive market response. Following the announcement, Gillette’s stock surged by 10% on Tuesday, October 29, reflecting investor confidence in the company's robust performance.
Key Takeaways from the Share Price Surge
- The company achieved 17.1% YoY growth, reaching ₹781.82 crores in Q2 FY24.
- Total expenses increased by 11% YoY, reflecting careful cost allocation.
- Earnings Per Share (EPS): EPS increased to ₹40.82, compared to ₹28.44 in the previous year’s quarter.
For Q2 FY24, revenue from operations grew to ₹781.82 crores, marking a 17.1% increase from ₹667.55 crores in the same quarter last year. Total income also rose substantially to ₹788.87 crores, up by 16.6% from ₹676.19 crores reported in Q2 FY23, supported by additional income sources.
Despite rising operational costs, Gillette maintained effective cost management. Total expenses for the quarter stood at ₹611.62 crores, a 11% increase from ₹551.03 crores in Q2 FY23. The increase in expenses was driven by higher advertising, sales promotion, and raw material costs.
Gillette reported a profit before tax (PBT) of ₹177.25 crores, a notable 41.6% increase from ₹125.16 crores in the previous year’s corresponding quarter. After accounting for tax expenses, the net profit after tax (PAT) rose significantly to ₹133.01 crores, a 43.5% increase compared to ₹92.69 crores in Q2 FY23.
This impressive performance translated into higher earnings per share (EPS), with basic and diluted EPS for the quarter reaching ₹40.82, up from ₹28.44 in the same period last year.
About Gillette India Limited
Gillette India Limited, incorporated under the Companies Act 1956, manufactures and sells FMCG products in the grooming and oral care segments. The company’s portfolio includes renowned brands like Fusion5, SkinGuard Sensitive, MACH3, Guard3, Styler, and Presto, offering razors, blades, shaving gel, cream, and aftershave through diverse retail channels such as drugstores, department stores, and mass merchandisers.
Take your investment to next level
Open a FREE* Demat and Trading account to invest in Stocks, Mutual Funds, IPOs and more
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