Q2 Earnings 2024: With majors across sectors and all of the IT services giants having released their Q2 results, the quarter earnings season is now in full swing. Majors like Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Tech Mahindra, Reliance Industries, Bharti Airtel, HUL, ITC, Marico, Adani Wilmar, Nestle India, BHEL, Adani Enterprises, Punjab National Bank, Axis Bank, HDFC Bank, LTIMindtree, Coal India, JSW Steel, BPCL, ICICI Bank, TVS Motor, Havells India, Paytm, Zomato, PVR Inox, Bajaj Auto, Piramal Pharma, among many others have announced their Q2 numbers.
Today, companies like Larsen & Toubro, The Tata Power Company, Dabur India, Aditya Birla Capital, Procter and Gamble Hygiene and Health Care, Biocon, TTK Prestige, TCI Express, IRB Infrastructure Developers, Vardhman Textiles, 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.
Virendra D Mhaiskar, Chairman & Managing Director of the Company, said, “The Q2FY25 looks fine, specifically on the toll collection front, which has shown consistent robust year on year growth, despite the impact of heavy monsoon resulting into the traffic disruptions in some of the Assets. We expect improved performance in the remaining quarters in view of the exit of the monsoon season, coupled with the set-in festive season and the pace consolidation in the development of under construction projects post monsoon season.”
The company board declared its second Interim dividend of Re 0.10 per equity share of face value of Re 1 each (@10 per cent of face value of share) for financial year 2024-25. “The record date for the purpose of payment of dividend is Friday, November 8, 2024. The Interim dividend shall be paid within stipulated timelines as prescribed under law,” it said in a regulatory filing.
IRB Infrastructure Developers Ltd on Wednesday released its fiscal second quarter earnings report with profit at Rs 99.87 crore, up 4.3 per cent as against Rs 95.75 crore posted during the corresponding quarter of FY24. It recorded revenue from operations at Rs 1585.84 crore, posting a drop of 9.1 per cent in comparison to Rs 1745.00 crore during the same period of previous financial year. The company EBITDA stood at Rs 76.6 crore, down 3.6 per cent.
Dabur lndia announced that it has entered into an agreement to merge Sesa Care Private Limited (Sesa). As part of the transaction, Dabur said, it will acquire 51 per cent of the total paid up cumulative redeemable preference shares (CRPS) of Sesa from its existing shareholder, True North, for Rs 12.59 crore at face value. The enterprise value is estimated to be in the range of Rs 315-325 crore, including debt of Rs 289 crore, which will be backed by the Corporate Guarantee of Dabur.
The company board declared an interim dividend of 275 per cent for 2024- 25. "Continuing with our payout policy, the Board has declared an interim dividend of Rs 2.75 per share, aggregating to a total payout of Rs 487.39 crore,” said Dabur lndia Chairman Mohit Burman.
Mohit Mathotra, Chief Executive Officer, Dabur lndia, said, “Over the past couple of years, we have witnessed a marked shift in consumer buying patterns in favour of emerging channels like quick commerce, driven by the convenience this channel offers. This has resulted in the emerging channels growing at high teens, putting the General Trade under stress. To address the changing dynamics in the marketplace and support our distributor partners in tiding over the challenges, we took a proactive decision to rationalise inventory in the GeneraI Trade, which resulted in a temporary dip in sales during the quarter. However, the move has resulted in improving the long-term health and hygiene of our business, paving the way for healthy growth going forward.”
This one-off adjustment notwithstanding, Dabur's business fundamental remains strong with secondary sales for the second quarter growing at over 2 per cent and our 5-year revenue CAGR for the lndia business at over 8 per cent.
Dabur India Ltd on Wednesday recorded a fiscal second quarter profit decline of 17.7 per cent at Rs 417.52 crore in comparison to Rs 507.04 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 3,028.59 crore, down 5.5 per cent as against Rs 3,203.84 crore during the same period of previous financial year. The company EBITDA stood at Rs 553 crore.
In a statement, the company said, “Despite a challenging demand environment marked by high food inflation and a resultant squeeze in urban demand, Dabur continued to drive consumer engagement across its key brands to end the second quarter of 2024-25 with a consolidated revenue of Rs 3,029 crore.”
Kumar Venkatasubramanian, Managing Director, Procter & Gamble Hygiene and Health Care Ltd, said, “We have continued to focus on delighting consumers with superior propositions, and driving the integrated growth strategy– a focused product portfolio of daily use categories where performance drives brand choice, superiority (of product performance, packaging, brand communication, retail execution and consumer and customer value), productivity, constructive disruption, and an agile and accountable organization – which we remain committed to.”
Procter & Gamble Hygiene & Health Care Ltd on Wednesday posted its fiscal second quarter profit at Rs 211.90 crore, up 5.1 per cent in comparison to Rs 210.69 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 1135.16 crore, marginally lower than Rs 1138.35 crore reported during the same period of previous financial year.
Elara Securities said, “We maintain our positive outlook on Marico (MRCO IN) as it demonstrated strong potential for double-digit sales growth in the medium term, fueled by price growth, focus on direct reach and robust performance in its Foods and Premium Personal care segments. Furthermore, there is an upside risk in margin in the long term as new business scales up.”
Prestige Estates Projects Ltd reported its fiscal second quarter earnings with profit at Rs 234.60 crore, registering a decline of 74.2 per cent in comparison to Rs 910.30 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 2304.40 crore, up 3.0 per cent as against Rs 2236.40 crore reported during the quarter ended September 2023.
The company recorded sales for the quarter at Rs 4022.60 crore and collections for Q2FY25 stood at Rs 2737.20 crore.
Today, companies like Larsen & Toubro, The Tata Power Company, Dabur India, Aditya Birla Capital, Procter and Gamble Hygiene and Health Care, Biocon, TTK Prestige, TCI Express, IRB Infrastructure Developers, Vardhman Textiles, and others will release their Q2 earnings report.
With companies including Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Tech Mahindra, Reliance Industries, Bharti Airtel, HUL, ITC, Marico, Adani Wilmar, Nestle India, Zomato, Paytm, PNB, ICICI Bank, Yes Bank, Axis Bank, HDFC Bank, BHEL, Piramal Pharma, PVR INOX, Maruti Suzuki, Bajaj Auto, having already released their Q2 numbers, the second earnings season is now in full swing.
Greetings! We, at FinancialExpress.com, have been bringing to you all the updates on the numbers being released by companies across sectors for the fiscal second quarter. Going forward as well, we will continue to keep you updated on major firms’ Q2 numbers, what’s helping their growth and what’s leading to a de-growth. Stay tuned.