FFC reported a net income of Rs. 12.2 per share and declared a cash dividend of Rs. 10 per share for the 2nd quarter ending Jun 2024.
Compared to the previous quarter, the EPS shows a significant increase of 47.8%. Moreover, the net income surged by an impressive 190.7% compared to the same period last year.
Despite a slight decline in revenue of 2.1% from Q1, there was a notable 60.8% increase in revenue compared to Q2 June 2023. Gross profit witnessed robust growth, surging by 80.1% over Q1 and 87% over Q2 June 2023. This led to an improved gross profit margin of 54%, significantly higher than the average of 38% over the past four quarters.
Financial charges accounted for 5% of earnings before interest and taxes (EBIT). While they decreased by 8.3% from Q1, they increased by 15.7% compared to Q2 June 2023. The tax rate for the latest quarter was 40%, lower than the average tax rate of 46% over the last four quarters.
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