Godrej Agrovet’s Q2 2023 results: Revenue beats expectations, EPS lags
Godrej Agrovet (NSE:GODREJAGRO) Second Quarter 2023 Results
Main financial results
- Revenue: ₹24.5 billion (up 14% from Q2 2022).
- Net profit: ₹717.6m (down 34% from Q2 2022).
- Profit margin: 2.9% (vs. 5.1% in 2Q 2022). The lower margin was driven by higher expenses.
- EPS: ₹3.73 (from ₹5.69 in Q2 2022).
All figures shown in the table above are for the 12 month period (TTM)
Godrej Agrovet’s revenue beats expectations, EPS falls short
Revenue beat analysts’ estimates by 1.1%. Earnings per share (EPS) missed analysts’ estimates by 33%.
Going forward, revenue is expected to grow by 12% per year on average over the next 3 years, against a growth forecast of 9.5% for the food industry in India.
Performance of the Indian food industry.
Shares of the company are down 1.0% from a week ago.
It must be said that we discovered 2 warning signs for Godrej Agrovet which you should be aware of before investing here.
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