Business Business:Tourism Finance Corporation of India has announced its Q2 results for the financial year on October 24, 2024, showing a stellar performance. The company's topline revenue witnessed a healthy growth of 7% year-on-year, while profit grew by an impressive 36.42%. This growth reflects the company's resilience in a recovering tourism sector. Compared to the previous quarter, Tourism Finance Corporation of India's revenue increased marginally by 0.46%, and profit also saw a marginal increase of 0.72%.
Despite the challenges faced in the industry, these figures show a steady upward trajectory�Trajectory�indicate. The company's selling, general and administrative expenses increased by 0.88% quarter-on-quarter, but the figure showed a significant decline of 29.19% year-on-year, reflecting the company's effective cost management strategies. However, operating income declined by 8.04% compared to the previous quarter, although it still managed to grow by 28.54% year-on-year, indicating that the company is operating in a healthy manner amid volatile market conditions. Maintaining operational efficiency.
Earnings per share (EPS) for the second quarter stood at ₹2.76, marking a notable growth of 33.33% year-on-year, further underscoring the company's solid financial health. Despite positive quarterly results, Tourism Finance Corp of India has faced some challenges in the stock market, returning -4.64% in the last week and -24.17% in the last six months. However, the company has generated 8.99% returns year-to-date, indicating a potential recovery on the horizon. Currently, the market capitalization of Tourism Finance Corp of India is ₹1282.17 Crore, with a 52-week high of ₹267.55 and low of ₹90.85, indicating the stock's volatility in recent months.
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