Elgi Rubber hits the floor after reporting turnaround Q2 performance

Elgi Rubber Company hit a lower circuit of 10% at Rs 107.19 after the company reported consolidated net loss of Rs 4.12 crore in Q2 FY25 as compared with net profit of Rs 10.21 crore

Revenue from operations declined 2.62% to Rs 98.67 crore in Q2 FY25 as compared with Rs 101.32 crore in Q2 FY24.

The firm reported pre-tax loss of Rs 4.54 crore during the quarter as compared with pre-tax profit of Rs 11.71 crore posted in corresponding quarter last year.

Total expenses increased 3.59% to Rs 102.50 crore in Q2 FY25 as compared with Rs 98.95 crore in Q2 FY24. Cost of material consumed stood at Rs 44.32 crore (up 18.63% YoY), employee benefit expenses was at Rs 17.13 crore (up 23.41% YoY), finance cost was at Rs 3.03 crore (down 46.09% YoY) during the period under review.

 

Elgi Rubber Company provides solutions to Rubber Industry and engaged in the business of manufacture of Reclaimed rubber, Retreading machinery, and Retread rubber.

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