Q2 Earnings 2024: With majors across sectors and all of the IT services giants already having released their Q2 numbers, the quarter earnings season is now in full swing. Companies like Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Tech Mahindra, Reliance Industries, HUL, ITC, Adani Wilmar, Nestle India, Axis Bank, HDFC Bank, LTIMindtree, TVS Motor, Havells India, Paytm, Zomato, PVR Inox, Bajaj Auto, Piramal Pharma, Mahindra Logistics, among many others already having released their Q2 numbers.
Today, companies like Coal India, JSW Steel, DLF, Bharat Electronics, Interglobe Aviation, Bharat Petroleum Corporation, Bank Of Baroda, Shriram Finance, Torrent Pharmaceuticals, Hindustan Petroleum Corporation, IDBI Bank, Bandhan Bank, Poonawalla Fincorp, NIIT, ICRA, Novartis India, Phoenix Mills, Inox Wind, JM Financial, Jammu and Kashmir Bank, Mahindra Holidays and Resorts India, Gensol Engineering, among others are lined up to release their Q2 earnings report.
Earlier, Reliance Industries Ltd (RIL) had posted a profit decline of 4.8 per cent on-year at Rs 16,563 crore and revenue at Rs 235,481 crore. HCL Tech recorded Q2 profit at Rs 4,237 crore, up 10.5 per cent YoY and revenue at Rs 28,862 crore. TCS reported Q2 profit at Rs 11,909 crore, up 5.0 per cent YoY and revenue at Rs 64,259 crore. Infosys recorded Q2 profit at Rs 6506 crore and revenue at Rs 40,986 crore. Wipro, meanwhile, reported fiscal second quarter profit at Rs 3226.60 crore, up 21.0 per cent YoY and revenue at Rs 22,301.60 crore.
Ramnath Krishnan, MD, and Group CEO, ICRA Limited, said, "ICRA's ratings businesses showed strong growth supported by a buoyant bond market in Q2 FY2025. ICRA announced its first ESG rating in the quarter and we are very excited for the opportunity this space provides us to work towards a sustainable future. Research & Analytics segment growth was robust in line with our focus on growing the domestic business and acquisition of D2K Technologies."
ICRA Limited on Friday announced that it posted a profit of Rs 36.72 crore during the second quarter of FY25, up 15.6 per cent in comparison to Rs 31.77 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 126.12 crore, up 20.3 per cent as against Rs 104.85 crore during the same period of previous financial year.
Pieter Elbers, CEO, said, “IndiGo’s growth and expansion continued as our topline grew by 14.6 percent on a year over year basis, in the second quarter to 178 billion rupees. In a traditionally weaker second quarter, results were further impacted by headwinds related to groundings and fuel costs. We have turned the corner as the number of grounded aircraft and associated costs have started reducing. We continue to capitalize on the growth of the Indian market and associated opportunities and at the same time remain a cost leader in this competitive market. It marks a proud moment for us as we launch our business class two weeks from now and offer a new experience to our customers. We are receiving positive response to our recently launched loyalty rewards program – IndiGo BluChip. I would like to extend my gratitude to our 6E family for their continuous efforts in making IndiGo India’s preferred airline and courteously serving 28 million customers during the quarter.”
Capacity increased by 8.2% to 38.2 billion
Passengers increased by 5.8% to 27.8 million
Yield increased by 2.3% to Rs 4.55 and load factor reduced by 0.6 pts to 82.6%
Fuel CASK increased by 4.2% to Rs 1.73
IndiGo operator InterGlobe Aviation on Friday reported Q2FY5 loss of Rs 986.70 crore in comparison to a profit of Rs 188.90 crore recorded during the corresponding quarter of FY24. The loss incurred during the quarter was driven by higher fuel costs and a peak number of groundings, which have now started to reduce. It posted revenue from operations at Rs 16,969.60 crore, up 13.6 per cent as against Rs 14,943.90 crore during the same period of previous fiscal year. The company posted EBITDAR at Rs 2,434 crore.
Eris Lifesciences Ltd on Friday recorded profit at Rs 91.59 crore for the second quarter of FY25, registering a decline of 25.8 per cent in comparison to Rs 123.43 crore during the corresponding quarter of FY24. It recorded revenue from operations at Rs 741.17 crore, up 46.7 per cent as against Rs 505.30 crore during the same period of previous financial year. The company EBITDA stood at Rs 264.6 crore, up 46 per cent YoY.
Kamal Singal, Managing Director and CEO, Arvind SmartSpaces Ltd, said, “We are delighted to share that the Company has recorded the highest ever quarterly bookings. For the first time, we have crossed the Rs 400 crore milestone for quarterly bookings. Our half yearly performance has also been best ever in terms of bookings and collections. Our operations cycle remains strong with operating cash flows of Rs 106 crore during the quarter and Rs 203 crore during the half year.”
“The optimism in residential real estate, especially mid income and premium segment remains strong. We are progressing well to end the year on a strong note, driven by a solid pipeline of launches and business development in the upcoming quarters,” he added.
Arvind SmartSpaces Ltd on Friday recorded profit for the fiscal second quarter at Rs 40.69 crore, reporting a jump of 370.9 per cent from Rs 8.64 crore posted during the corresponding quarter of FY24. It posted revenue from operations at Rs 265.58 crore, up 265.5 per cent as against Rs 72.67 crore during the same period of previous financial year.
Bookings, meanwhile reported a growth of 26 per cent YoY at Rs 464 crore and collections stood at Rs 249 crore
Bharat Electronics Ltd (BEL) on Friday reported fiscal second quarter profit at Rs 1092.45 crore, up 38.4 per cent in comparison to Rs 789.35 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 4604.90 crore, up 14.9 per cent as against Rs 4009.06 crore during the same period of previous financial year.
The company has achieved a turnover of Rs 8530.43 crore, registering a growth of 15.83 per cent during the first half of FY 2024-25 over the turnover of Rs 7364.82 crore recorded in the corresponding period of the previous year. During the second quarter of FY 2024-25, BEL achieved a turnover of Rs 4425.29 crore.
The order book position of the company as on 1st October, 2024 stood at Rs 74,595 crore.
Total Deposit: Rs 2,77,602; up 11% YoY
CASA: Rs 1,33,639; up 4.03% YoY
CASA ratio: 48.14%
Net advances: Rs 2,00,944 crore; up 19% YoY
IDBI Bank Ltd on Friday posted consolidated profit for the fiscal second quarter at Rs 1,860.80 crore, up 34.3 per cent as compared to Rs 1,385.40 crore during the same period of previous financial year. It posted total income during the quarter at Rs 8,812.79 crore, up 24.8 per cent as against Rs 7,063.66 crore during the second quarter of FY24.
On a standalone basis, IDBI Bank recorded profit at Rs 1,836.5 crore, up 38.3 per cent on-year. The Net Interest Income stood at Rs 3,875 crore, up 26 per cent YoY and Net Interest Margin came in at 4.87 per cent.
Bharat Petroleum Corporation Ltd on Friday recorded fiscal second quarter profit at Rs 2,297.23 crore, posting a drop of 72.1 per cent in comparison to Rs 8,243.55 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 1,17,948.75 crore, up 1.1 per cent as against Rs 1,16,657.34 crore during the same period of previous financial year.
Revenue across segments
Downstream Petroleum: Rs 1,17,917.07 crore
Exploration & Production of Hydrocarbons: Rs 31.68 crore
During Q2FY25, HPCL refineries recorded crude thruput of 6.30 MMT (operating close to 107.7% of the installed capacity) registering an increase of 9.6 per cent over the thruput of 5.75 MMT during Q2FY24.
The company recorded sales volume of 11.62 MMT (including exports) during Q2FY25 registering a growth of 8.2 per cent as against 10.74 MMT during Q2FY24. On the domestic front, HPCL achieved sales volume growth of 5.6 per cent during the quarter as against PSU Industry growth of 1.8 per cent.
During Q2FY25, sales of Motor fuels was 6.8 MMT (growth of 4.5 per cent over Q2FY24) and in case of LPG, the company achieved a sales volume of 2.25 MMT (growth of 5.9 per cent over Q2FY24). The Aviation business of the company recorded a growth of 19.6 per cent over Q2FY24 with sales volume of 250 TMT during Q2FY25.
HPCL’s Lubricants segment sales volume was 168 TMT during the quarter. During Q2FY25, the company recorded its highest-ever petrochemical sales of 30.4 TMT.
HPCL also recorded pipeline thruput of 6.53 MMT during Q2FY25 (growth of 6.5 per cent over Q2FY24).
Hindustan Petroleum Corporation Ltd (HPCL) on Friday reported a profit decline of 97.6 per cent during the fiscal second quarter at Rs 142.67 crore in comparison to Rs 5,826.96 crore recorded during the corresponding quarter of FY24. The profit decline, it said, was due to suppressed marketing margins on select petroleum products, reduced refining margins due to lower cracks and falling International crude & Product prices. It posted a total income of Rs 1,08,773.93 crore, up 5.6 per cent as against Rs 1,03,010.71 crore during the same period of previous financial year.
Crude steel production: 6.77 million tonnes; up 7% YoY
Steel sales: 6.13 million tonnes; down 3% YoY
JSW Steel Ltd on Friday reported its fiscal second quarter profit of Rs 404 crore, posting a decline of 85.4 per cent in comparison to Rs 2773 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 39,684 crore, down 11.0 per cent as against Rs 44,584 crore recorded during the same period of previous financial year. The company EBITDA stood at Rs 5,437 crore.
PSP Projects Ltd on Friday reported its fiscal second quarter earnings with profit at Rs 10.22 crore, posting a decline of 73.5 per cent in comparison to Rs 38.52 crore during the corresponding quarter of FY24. It recorded revenue from operations at Rs 585.97 crore, down 5.4 per cent as against Rs 619.65 reported during the same period of previous financial year. The company EBITDA stood at Rs 38 crore, down 47.2 per cent YoY.
Elara Securities said, “PLNG’s Q2 EBITDA and PAT were lower than estimated due to lower inventory gain. We revise Petronet LNG (PLNG IN) to Reduce from Sell as the stock has corrected 12% from its 52-week high, with softening of gas-based power demand post the summer season. Thus, the stock is partially pricing-in concern of costly valuation amid imminent competition from new LNG terminals in the West Coast and rising domestic gas supply. But we raise our DCF-based TP to INR 331 (from INR 315) as we roll-over to FY27E estimates.”
An analysis report by InCred Equities said, “Colgate-Palmolive India or CLGT’s standalone net revenue in 2QFY25 was up 10.1% yoy. Domestic sales grew by 10.5% yoy, led by high single-digit volume growth (7-8%) in the toothpaste segment, which was supported by the relaunch of some flagship brands in the last one year, backed by media campaigns. Toothbrush sales grew in double digits. CLGT had taken corrective steps in key markets a few quarters ago, which seems to have aided in driving strong growth for the segment. CLGT continues to drive competitive growth, considering HUL posted 5-6% sales growth in its oral care segment this quarter.”
Avadhut Ketkar, Chief Financial Officer, Oracle Financial Services Software, said, “We are pleased with the overall performance of the business as we maintain the track record of delivering strong operating performance. The Product business continued to show momentum with the revenues for the quarter growing 17% year-over-year. The operating and net margins were robust at 43% and 35%, respectively. On a half-yearly basis too, our revenue grew by 17% and the net income increased by 30%, with operating margin of 45% and net margin of 35%.”
Makarand Padalkar, Managing Director and Chief Executive Officer, Oracle Financial Services Software, said, “We are witnessing a mindset change in the global financial industry with a greater demand for cloud offerings. The continued growth in our license and cloud signings is a result of the proven ability of our products to deliver end-to-end solutions that meet customers’ business needs and arm them with competitive advantage. We have successfully delivered this quarter a double-digit growth year-over-year with revenue growing 16% and net income growing 38%.”
Oracle Financial Services Software Ltd released its fiscal second quarter earnings with profit at Rs 577.70 crore, up 38.4 per cent in comparison to Rs 417.40 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 1673.90 crore, up 15.9 per cent as against Rs 1444.50 crore during the same period of previous financial year. The company EBITDA stood at Rs 750.6 crore, up 34.5 per cent YoY.
NTPC Ltd recorded a profit growth of 13.8 per cent for the second quarter of FY25 at Rs 5380.25 crore in comparison to Rs 4726.40 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 44,696.30 crore, posting a drop of 0.6 per cent as against Rs 44983.35 crore during the same period of previous financial year.
The company board also declared its first interim dividend at the rate of 25 per cent (Rs 2.50 per share) on the face value of paid-up equity shares of Rs 10 each for the financial year 2024-25. The date of payment / dispatch of dividend shall be 18 November 2024, it said.
Medan Airport (Indonesia): Q2 pax traffic stood at 1.84 million, down 5.7 per cent YoY due to delay in reactivation of fleets by airlines. H1FY25 pax traffic was down 6.0 per cent YoY to 3.54 million. Q2 total Income came in at Rs 130 crore, down by 4.7 per cent from Rs 137 crore in
Q2FY24.
Crete Airport (Greece): GMR said that the project is fully funded mainly through State Grant (which is already received) and Airport Modernisation & Development Tax. It is a debt free project, it said while adding that overall progress is of around 39.4 per cent achieved as of 30 Sep’24.
Cebu Airport (Philippines): Equity divestment underway 6.67 per cent stake already transferred and remaining 33.33 per cent to be transferred by end-Oct'24. Q2FY25 pax traffic increased to 2.78 million, up by 5.1 per cent YoY from 2.64 million in Q2FY24.
Delhi Airport: Pax traffic during Q2 increased to 19.0 million, up by 7.6 per cent YoY from 17.7 million in Q2FY24. Domestic traffic increased by 5.8 per cent YoY while international traffic increased significantly by 12.7 per cent YoY in Q2FY25.
Hyderabad Airport: Q2FY25 pax traffic increased to 6.9 million, up by 14.0 per cent YoY from 6.0 million in Q2FY24. Domestic traffic increased by 14.5 per cent while international traffic increased by 11.5 per cent YoY in Q2FY25.
Mopa (Goa) Airport: Pax traffic during the quarter increased to 1.04 million, up by 15.8 per cent YoY from 0.9 million in Q2FY24.
Bhogapuram Airport (Visakhapatnam, Andhra Pradesh): During the quarter, it received approval from project finance lenders for debt of Rs 3,215 crore with a tenure of 18 years.
GMR Airports Limited released its fiscal second quarter earnings with a loss of Rs 280.40 crore, growing from a loss of Rs 91.03 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 2,495.46 crore, up 21.1 per cent as against Rs 2,061.50 crore during the same period of previous financial year. Total Income increased to Rs 1,379 crore, up by 10.0 per cent YoY from Rs 1,254 crore in Q2FY24.
Today, companies like Coal India, JSW Steel, DLF, Bharat Electronics, Interglobe Aviation, Bharat Petroleum Corporation, Bank of Baroda, Shriram Finance, Torrent Pharmaceuticals, Hindustan Petroleum Corporation, IDBI Bank, Bandhan Bank, Poonawalla Fincorp, NIIT, ICRA, Novartis India, Phoenix Mills, Inox Wind, JM Financial, Jammu and Kashmir Bank, Mahindra Holidays and Resorts India, Gensol Engineering, and many others will release their Q2 earnings report.
With major firms across sectors including Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Tech Mahindra, Reliance Industries, HUL, ITC, Adani Wilmar, Nestle India, Zomato, Paytm, Piramal Pharma, Axis Bank, HDFC Bank, PVR INOX, Bajaj Auto, TVS Motor, having already released their Q2 numbers, the second earnings season is picking up speed.
Greetings! While major companies including TCS, HUL, HCL Technologies, Infosys, Wipro, Tech Mahindra, Nestle, ITC, HUL, HDFC Bank, Zomato, Paytm, and others have already announced their Q2 earnings, we, at FinancialExpress.com, are continuously bringing all the updates on the performance by companies, what’s helping their growth and also what’s leading to a de-growth. We will continue to bring the latest updates through this live blog. Stay tuned.