Hardwyn India Q2 Results: PAT Soars 15% YoY, Revenue Remains Flat

A small-cap company in the commercial services industry is Hardwyn India. Among Indian producers of architectural hardware, Hardwyn is a well-known brand. The company, which provides furniture hardware fittings and high-end door hardware, has released its financial results for the quarter that ended on September 30, 2023.

On a standalone basis, the company reported net revenue of Rs 36.42 Cr in Q2FY24 up by 4.41% YoY from Rs 34.88 Cr in Q2FY23. The company said its net expenses stood at Rs 34.52 Cr during the quarter under review compared to Rs 33.26 Cr recorded in the year-ago quarter.

Hardwyn India said its standalone net profit reached Rs 1.34 Cr during the September 2023 quarter 15.51% YoY from Rs 1.16 Cr in the same quarter of the previous fiscal.

On a consolidated basis, the company reported a net revenue of Rs 32.01 Cr during the quarter under review compared to Rs 37.05 Cr in the 1st quarter of FY24. Its consolidated net profit reached Rs 1.48 Cr in Q2FY24 compared to Rs 1.11 Cr in Q1FY24.

On Friday, the shares of Hardwyn India closed at Rs 36.15 apiece. The scrip reached a 52-week-high of Rs 57.00 on (07/06/2023) and a 52-week-l0w of Rs 17.25 on (03/04/2023).