07 Nov , 2024 By : Debdeep Gupta
Shares of Endurance Technologies surged over 6 percent on November 7 after the company posted solid financials for Q2FY25, showcasing both revenue and profit growth on a year-on-year basis. The company's net profit rose 31 percent YoY to Rs 203 crore and revenue rose over 14 percent to Rs 2,912.6 crore.
By 9:40 AM, shares were trading up by 2 percent at Rs 2,432, adding to its year-to-date gains of 25 percent—a performance that handily beats the 12 percent return from the Nifty 50 index over the same period. This climb follows a series of monthly declines from July to October.
The company's aftermarket sales in India reached Rs 229.8 crore, up from Rs 217.7 crore in the same quarter last year.
"Two-wheeler sales volumes for Indian OEMs grew 13.1 percent YOY in Q2FY25; three-wheeler growth stood at 4.9 percent. Passenger vehicle volumes recorded marginal de-growth in India, while Europe's new car registrations degrew 7.8 percent," said Anurag Jain, Managing Director of Endurance Tech.
"Endurance outperformed the industry by recording topline growth of 16.8 percent in the standalone business and 6.4 percent in Euro terms in Europe. In both geographies, we have grown with higher operating margins," Jain added.
Endurance, a leader in automotive components, operates 32 facilities across India and Europe, providing two- and three-wheeler components domestically and aluminum castings for four-wheelers in Europe.
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