Q2 Result 2024: HAL, Hero Motocorp, Muthoot Finance, Lemon Tree Hotels, and over 900 others releasing Q2 results today

George Jacob Muthoot, Chairman, The Muthoot Group, said, “We are extremely happy to announce that our Consolidated Loan Assets Under Management has crossed the golden milestone of Rs.1lakh crore. Our Consolidated Profit After Tax for the half year ended September 30 ,2024 has reached a historic high of Rs.2517 crores. This achievement is a reflection of the relentless effort of our dedicated employees and the unwavering trust of our valued customers. Muthoot Finance has the lowest number of customer complaints among peers which underscore our commitment to customer satisfaction. We continue to be a trusted partner of choice for our customers. In alignment with the RBI’s focus on customer protection and compliance, we assure all stakeholders that Muthoot Finance remains dedicated to responsible lending practices. As India’s economic and investment activities gain momentum, we are steadfast in our vision to diversify our portfolio beyond gold loans, evolving as a comprehensive financial services group.”

A report by Elara Securities stated, “Torrent Power (TPW IN) reported a 3% YoY revenue increase to Rs 72bn in Q2FY25, although higher expenses led to a 7% decline in reported PAT to Rs 6.8bn and a 16% drop in adjusted PBT to Rs 6.2bn. Operating profit fell 1.2% YoY, with margin at 16.8%. The Monsoon season reduced power demand, with generation revenue down 7% YoY to INR 18bn, while transmission and distribution revenue rose 4% YoY. Renewables (RE) revenue fell 21% YoY due to weather-affected plant load factor (PLF) and partial solar project commissioning. Key PLF include Unosugen at 8%, Sugen at 51%, and overall gas plants at 25%. TPW plans to expand its RE portfolio to 4.3GW, with 3,225MW in the pipeline at an estimated cost of Rs 193bn, alongside 8.4GW of pumped storage in Maharashtra and Uttar Pradesh. Its pilot hydrogen blending project in UP is near completion, and TPW was allocated 18 KTA of green hydrogen capacity under the PLI scheme at ~Rs 28.9/kg.”

Raju Bista, Managing Director, Surya Roshni, said, “In Q2FY25, posed several challenges for the company’s businesses due to seasonal factors, price volatility, and geopolitical tensions affecting export markets. Nonetheless, the company has managed these headwinds through stringent operational efficiencies and proactive capacity expansion, which are expected to support gradual improvement in both domestic and export markets. Due to external economic factors, the company faced a challenging Q2FY25, with consolidated revenue stood at ₹1,529 crores. Strategic initiatives in operational efficiency, high-margin product focus, and regional market expansion are expected to support improved performance in the second half of the fiscal year.”

The company also announced that Mahesh Chhabria, Managing Director, Kirloskar Industries Limited (KIL) has expressed his desire for an early retirement, for pursuing an entrepreneurial journey. He will remain as the Managing Director of KIL till close of business of 31 March 2025. The Board of Directors has accepted his request.

Kirloskar Industries Ltd on Thursday posted a profit of Rs 49.71 crore for the fiscal second quarter, registering a growth of 9.25 per cent in comparison to Rs 45.50 crore recorded during the second quarter of FY24. It posted revenue from operations at Rs 1,687.74 crore, up 6.95 per cent as against Rs 1,578.04 crore during the same period of previous fiscal year. The company EBITDA stood at Rs 211.7 crore, down 19.6 per cent on-year.

Ashwin Devineni, CEO, NAVA Limited, said, “Our latest financial results showcase Nava Limited’s resilience and strategic direction, while enhancing profitability across sectors. Our diversified portfolio and prudent financial management have not only bolstered our cash flows but have also enabled significant debt reduction, thus enhancing shareholder value. Furthermore, our expansion in Zambia with a new integrated sugar plant and our robust agricultural initiatives position us to tap into high-growth opportunities in Africa.”

Nava Ltd on Thursday released its fiscal second quarter earnings with profit at Rs 251.08 crore, registering a growth of 69.33 per cent in comparison to Rs 148.28 crore recorded during the corresponding quarter of FY24. It posted revenue 900.48 crore, down 2.33 per cent as against Rs 921.99 crore during the second quarter of previous fiscal year. The company EBITDA stood at Rs 414.2 crore, up 15.3 per cent on-year.

Som Distilleries & Breweries Ltd on Thursday announced that it posted a profit growth of 25.93 per cent for the fiscal second quarter at Rs 18.70 crore in comparison to Rs 14.85 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 573.31 crore, up 22.99 per cent as against Rs 466.14 crore during the same period of previous financial year. The company EBITDA for Q2FY25 stood at Rs 35.19 crore as compared to Rs 27.49 crore for the same period last year, showing a growth of 28 per cent. The EBIDTA margin was at 12.10 per cent for the Q2 which has improved by over 1.00 per cent as compared to the same period last year.

Ipca Laboratories Ltd on Thursday released its fiscal second quarter earnings with profit at Rs 229.48 crore, registering a growth of 58.20 per cent in comparison to Rs 145.06 crore recorded during the same period of FY24. It posted revenue from operations at Rs 2354.90 crore, up 15.78 per cent as against Rs 2033.95 crore during the second quarter of previous fiscal year. The company EBITDA stood at Rs 441.7 crore, up 22.5 per cent on-year.

Global Health Ltd on Thursday posted a profit growth of 4.52 per cent for the fiscal second quarter at Rs 130.82 crore in comparison to Rs 125.16 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 956.56 crore, up 12.48 per cent as against Rs 850.45 crore during the same period of previous financial year. The company EBITDA stood at Rs 228.2 crore, up 4 per cent on-year.

During the quarter, 52 beds were added at Lucknow and 66 beds at Patna resulting in total bed addition of 118 beds in Q2FY25 Average occupied bed days increased by 9.1 per cent YoY, with strong occupancy of 64.3 per cent on increased bed capacity. In-patients count increased by 8.8 per cent YoY, and out-patients count increased by 6.6 per cent on-year.

A report by Elara Securities stated, “Based on a 2% QoQ contraction in ASP in Q2 for Royal Enfield (RE), Eicher Motors (EIM IN) consolidated revenue came in below estimates at Rs 41.8bn in Q2. EBITDA margin came in below expectations at 25.5% in Q2 on higher launch-related expenses and Rs 0.1bn one-off related to warehousing expenses. Management says the festival season has gone off well with 26% YoY growth, and post festival demand has also held up well. H2FY25 is likely to see better volume growth of 8% YoY for RE vs -1% in H1FY25. However, owing to muted ASP, we keep our EPS unchanged.”

Bharat Forge Ltd on Thursday released its fiscal second quarter earnings with profit at Rs 2432.96 crore, registering a growth of 13.23 per cent in comparison to Rs 2148.65 crore during the same period of previous financial year. It posted revenue from operations at Rs 3688.51 crore, down 2.27 per cent as against Rs 3774.19 crore during the second quarter of FY24.

An analysis report by JM Financial stated, “Yatra surprised positively in Q2 on top line with 151% YoY (121% organic) revenue growth versus JMFe of 89% YoY, led by strong traction for H&P and MICE business, that also offset the continued weakness in B2C bookings. EBITDA margin however, was down 67bps QoQ to 3.9%, a miss on JMFe of 6.0%, due to sharp rise in employee expenses and Globe Travels M&A related costs. While EBITDA was still better than expected, lower other income led to a miss on PAT. Management commentary continued to suggest B2E segment will drive growth. We raise revenue estimates by 30-42% over FY25-27 as we bake in Q2 topline out performance in addition to incremental revenue from Globe Travels consolidation. However, we cut earnings by 7-15% as we expect weaker margins and lower other income.”

Pitti Engineering Ltd released its fiscal second quarter earnings with profit at Rs 38.02 crore, registering a growth of 72.74 per cent in comparison to Rs 22.01 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 429.36 crore, up 41.89 per cent as against Rs 302.60 crore during the same period of previous financial year. EBITDA was at Rs 66.07 crore as compared to Rs 44.56 crore in Q2FY24, registering a growth of 48.27 per cent on YoY basis. Sales volume, meanwhile, increased to 16,300 MT as compared to 10,340 MT in Q2FY24, up 57.64 per cent on YoY basis.

Dhruv Shringi, Whole Time Director cum Chief Executive Officer, Yatra, said, “For the three months ended September 30, 2024, we reported strong growth both year over year and sequentially. Our Revenue grew 151% year-over-year to Rs 2,364 million, on account of strong growth in our Hotel and Packages and MICE (Meetings, Incentives, Conferences, and Exhibitions) businesses. Adjusted EBITDA at Rs 136 million for the quarter was up 29% year-over-year. Despite the challenges in the B2C air business, we continue to drive strong growth in our Hotels and MICE lines of business, which helped us more than offset the negative impact of the B2C air business.”

“We are encouraged by the strong momentum across all metrics in our Corporate Travel business, underscored by our growth in new accounts and MICE capabilities. As we continue to navigate a dynamic market, our focus remains on executing our strategic priorities to reinforce our market leadership and drive long-term value for stakeholders,” he added.