Q2 Earnings 2024 highlights: Even as many major companies access sectors and all of the IT services giants have already released their Q2 report, many others are still in the queue to announce Q2 earnings report. Majors like Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Tech Mahindra, Reliance Industries, Bharti Airtel, HUL, ITC, Adani Wilmar, Nestle India, BHEL, 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 and the earnings season is now in full swing.
Today, companies like Maruti Suzuki India, Adani Enterprises, Adani Ports and Special Economic Zone, Cipla, Canara Bank, Marico, Prestige Estates Projects, SBI Cards & Payment Services, Voltas, Hitachi Energy India, Honeywell Automation, APL Apollo Tubes, Vedant Fashions, V-Guard Industries, V-Mart Retail, Force Motors, GlaxoSmithKline Pharmaceuticals, Asahi India Glass, Godrej Agrovet, Symphony, among others are lined up to release their Q2 earnings report.
Earlier, Reliance Industries (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.
Going forward, this week will witness giants like Larsen & Toubro, The Tata Power Company, Dabur India, Aditya Birla Capital, Procter and Gamble Hygiene and Health Care, Biocon, and others announcing their Q2 numbers.
Honeywell Automation India Ltd on Tuesday reported its fiscal second quarter earnings with profit at Rs 115.10 crore, down 5.6 per cent in comparison to Rs 121.90 crore during the same period of previous year. It posted revenue from operations at Rs 1023.90 crore, registering a decline of 7.3 per cent as against Rs 1104.20 crore during the second quarter of FY24. The company EBITDA at Rs 129.1 crore, down 6.7 per cent on-year.
Godrej Agrovet Ltd on Tuesday posted its fiscal second quarter profit at Rs 95.79 crore, down 7.8 per cent in comparison to Rs 103.93 crore during the corresponding quarter of FY24. It recorded revenue from operations at Rs 2448.75 crore, registering a decline of 4.8 per cent as against Rs 2570.87 crore recorded during the same period of previous financial year. The company EBITDA stood at Rs 223.4 crore, up 13.2 per cent YoY.
Prathamesh Masdekar, Research Analyst, StoxBox, said, “Cipla continues to report healthy numbers, further establishing core business strengths in India, North America, and South Africa. Overall, the One-India branded prescription segment saw slower growth this quarter due to weaker market growth in anti-infectives. However, chronic therapies such as respiratory, cardiac, and urology maintained strong growth and outperformed market trends. In trade generics, seasonal factors affected the acute category’s performance, though Cipla anticipates a return to its growth path in upcoming quarters. The consumer has strong segment growth, with flagship brands Nicotex, Omnigel, and Cipladine sustaining their leadership in their respective categories. South African businesses recorded strong growth annually in local currency, led by the private market. Emerging markets and Europe have also delivered robust revenue growth on the back of a deep market focus strategy. It achieved leadership in the pharma prescription market by consistently outpacing market growth for a few years. We expect Cipla to work towards establishing a robust foundation for growth in upcoming quarters. The focus will be on growing key markets, further building flagship brands, investing in future pipelines, and focusing on resolutions on the regulatory front.”
APSEZ clocked 220 MMT of cargo volume, up 9 per cent YoY in H1 FY25, primarily driven by Containers (up 19 per cent YoY). It said that the Mundra Port achieved a significant milestone by crossing 100 MMT mark in 181 days (101.1 MMT in H1). Vizhinjam port, meanwhile, docked the largest cargo ship ever to arrive in South Asia (MSC Claude Girardet). The company handled 0.31 million TEUs rail volume (up 11 per cent YoY) and 10.7 MMT GPWIS volume (up 20 per cent YoY). Container volume handled at MMLPs increased by 21 per cent YoY to 215,958 TEUs.
Ashwani Gupta, Whole-time Director & CEO, Adani Ports and Special Economic Zone Limited (APSEZ), said, “We are pleased to witness continued growth across our operations, with our existing ports delivering strong volume ramp-ups and new capacity additions progressing as planned in Gopalpur, Vizhinjam and Colombo. During the quarter, we also diversified our marine fleet, adding 26 offshore support vessels. Our logistics business too achieved robust growth, enhancing last-mile connectivity through expansions in rakes, warehousing, MMLPs and agri-silos. Mundra Port’s remarkable milestone of crossing 100 MMT in 181 days and our cargo volume trajectory reaffirm our confidence in delivering our FY25 cargo guidance and hitting the upper end of our EBITDA guidance for the year. These results underscore APSEZ’s commitment to sustainable growth and operational excellence.”
Adani Ports And Special Economic Zone Ltd (APSEZ) on Tuesday reported its fiscal second quarter profit at Rs 2,445.00 crore, up 39.9 per cent in comparison to Rs 1,747.85 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 7,067.02 crore, registering a growth of 6.3 per cent as against Rs 6,646.41 crore during the same period of previous financial year. The company EBITDA stood at Rs 4,369 crore, up 12.6 per cent on-year.
Adani Enterprises Ltd on Tuesday reported a profit of Rs 1,741.75 crore for the fiscal second quarter, registering a jump of 664.5 per cent in comparison to Rs 227.82 crore recorded during the same period of FY24. It posted revenue from operations at Rs 22,608.07 crore, up 15.7 per cent as against Rs 19,546.25 crore reported during the second quarter of previous financial year. The company EBITDA stood at Rs 3,766 crore, up 55 per cent YoY.
Vascon Engineers Ltd on Tuesday posted a profit of Rs 10.31 crore during the second quarter of FY25, down 50.1 per cent in comparison to Rs 20.67 crore during the corresponding quarter of FY24. It reported revenue from operations at Rs 199.80 crore, up 25.5 per cent as against Rs 159.21 crore during the same period of previous financial year. The company EBITDA stood at Rs 14.4 crore, up 97.3 per cent YoY.
Umang Vohra, MD and Global CEO, Cipla Ltd, said, “I am pleased to share that we continue to make considerable progress across our focused markets. In Q2 FY25, we recorded a revenue growth of 9% over last year with a highest-ever EBITDA margin of 26.7%, driven by mix and other operational efficiencies. Our One-India business was impacted during the quarter due to changed seasonal pattern, however key chronic therapies in Branded Prescription business continued to grow faster than the market. Consumer health business grew at a strong 21% YoY. With our concentrated focus in differentiated portfolio, the US business posted a revenue of $ 237 Mn. In South Africa, we recorded a solid growth of 22% YoY in local currency terms, led by Private Market. Emerging Markets and Europe delivered a robust revenue growth of 18% YoY on the back of deep market focus strategy. Going ahead, focus will be on growing our key markets, further building our flagship brands, investing in future pipeline as well as focusing on resolutions on the regulatory front.”
Cipla on Tuesday reported its fiscal second quarter earnings with a profit growth of 15.2 per cent at Rs 1,302.53 crore in comparison to Rs 1,130.91 crore recorded during the same period of previous fiscal year. It posted revenue from operations at Rs 7,051.02 crore, up 5.6 per cent as against Rs 6,678.15 crore recorded during the second quarter of FY24. The company EBITDA stood at Rs 1,885.5 crore.
Kirloskar Brothers Ltd on Tuesday reported its fiscal second quarter earnings with profit at Rs 95.30 crore, up 99.8 per cent in comparison to Rs 47.70 crore recorded during the same period of previous financial year. It posted revenue from operations at Rs 1035.80 crore, up 13.4 per cent as against Rs 913.10 crore during the second quarter of FY24. The company EBITDA stood at Rs 142.1 crore, up 50.2 per cent YoY.
The company announced that its board of directors considered the structure after the acquisition and gave an in-principle approval for the amalgamation of Suzuki Motor Gujarat Private Limited (SMG) with Maruti Suzuki India Limited (MSIL). The appointed date for the amalgamation is 1st April 2025, subject to all legal and regulatory compliances., it said. Last year, SMG was acquired to become a 100 per cent subsidiary of MSIL.
During the quarter in review, Maruti Suzuki sold a total of 541,550 vehicles, of which the domestic market volume was 463,834 vehicles and the export volume was 77,716 vehicles. While the domestic volume declined by 3.9 per cent, the export volume grew by 12.1 per cent compared to the same period of the previous year. During the quarter, the company registered net sales of Rs 35589.10 crore.
Maruti Suzuki India Ltd on Tuesday recorded fiscal second quarter earnings with profit at Rs 3102.50 crore, registering a decline of 18.1 per cent in comparison to Rs 3786.20 crore during the same period of previous financial year. The drop in profit was from the withdrawal of indexation benefit and change in tax rate on long term capital gains on debt mutual funds as per the Finance Act 2024. It posted revenue from operations at Rs 37,449.20 crore, marginally higher than Rs 37,339.40 crore recorded during the second quarter of FY24.
As on 30 September, the Bank has 9658 number of branches, out of which 3115 are rural, 2778 semi urban, 1918 urban & 1847 metro along with 9881 ATMs. Bank also has 4 overseas branches in London, New York, Dubai and IBU Gift City.
Canara Bank announced that its Gross Non-Performing Assets (GNPA) ratio improved to 3.73 per cent as at September 2024 in comparison to 4.76 per cent as at September 2023. Net Non-Performing Assets (NNPA) ratio improved to 0.99 per cent as at September 2024 from 1.41 per cent as at September 2023. Provision Coverage Ratio (PCR) stood at 90.89 per cent as at September 2024 against 88.73 per cent as at September 2023.
Canara Bank on Tuesday announced its fiscals second quarter earnings with profit at Rs 4,100.32 crore, up 11.5 per cent as against Rs 3,677.39 crore recorded during the corresponding quarter of FY24. It posted total income during the quarter in review at Rs 38,006.05 crore, up 12.1 per cent from Rs 33,891.21 crore reported during the second quarter of previous financial year. On a standalone basis, profit came in at Rs 4,014.53 crore, up 11.3 per cent from Rs 3,606.14 crore during Q2FY24. NII for Q2 stood at Rs 9,315.3 crore, up 4.6 per cent vs Rs 8,903 crore YoY.
With Marico all set to announce its fiscal second quarter results today, Sharekhan by BNP Paribas said, “Domestic volume growth is expected to be better QoQ. Parachute Coconut Oil registered mid single-digit volume growth, while Saffola Oils posted low single digit revenue growth and Value Added Hair Oils (VAHO) was subdued amidst competitive headwinds in the bottom of the pyramid segment. Foods and Digital-first brands sustained their robust momentum. International business delivered low teen CC growth.” It said that the rise in copra prices would lead to around 50 and 70 bps YoY decline in gross margin and OPM, respectively. In line with 5 per cent YoY growth in the operating profit, PAT is expected to grow by approximately 6 per cent YoY, it said.
According to a CNBC TV18 poll, Marico is expected to record Q2 profit at Rs 384 crore and revenue for the quarter in review is estimated at Rs 2661 crore.
Naresh Patel, Executive Chairman & Managing Director, Ami Organics Limited, said, “Despite ongoing challenges in the global chemical industry, I am pleased to report stellar year-over-year growth of 43.2% in Q2FY25, driven by exceptional performance in our Pharmaceutical Intermediates and Specialty Chemicals businesses. Our key products maintained growth momentum, and an earlier-than-anticipated ramp-up in our CDMO business provided an additional boost to our results. I am also proud to announce that PMDA Japan has issued an Inspection Result Report declaring our Sachin Facility as Good Manufacturing Practices (GMP) compliant. We are experiencing a resurgence in demand for our core molecules, bolstered by ramp up in CDMO contract and strong volume growth within our Specialty Chemicals division. Based on the current order pipeline, we are raising our revenue growth guidance for FY25 from 25% to 30%.”
Ami Organics Ltd on Tuesday posted a profit of Rs 37.33 crore during the second quarter of FY25 in comparison to a loss of Rs 18.55 crore reported during the corresponding quarter of FY24. It posted revenue from operations at Rs 246.73 crore, up 43.1 per cent as against Rs 172.36 crore during the same period of previous financial year. The company EBITDA stood at Rs 49 crore, up 97.6 per cent YoY.
The company board declared a second interim dividend of Rs 2 (100 per cent) per equity share having face value of Rs 2 each for the financial year 2024‐25. The said interim dividend shall be payable to the shareholders on or before November 25, 2024, it said.
Symphony Limited on Tuesday recorded its fiscal second quarter results with profit at Rs 56 crore, 60.0 per cent in comparison to Rs 35 crore reported during the corresponding quarter of FY24. It posted revenue from operations at Rs 315 crore, up 14.5 per cent as against Rs 275 crore during the same period of previous fiscal year. The company EBITDA stood at Rs 64 crore, up 56 per cent YoY.
Greenlam Industries Ltd on Tuesday reported its fiscal second quarter earnings with profit at Rs 34.62 crore, down 11.3 per cent in comparison to Rs 39.03 crore recorded during the second quarter of FY24. It posted revenue from operations at Rs 680.81 crore, up 12.8 per cent as against Rs 603.64 crore during the same period of previous financial year. The company EBITDA stood at Rs 81.6 crore, up 7.9 per cent YoY.
InCred Equities said, “Tata Technologies’ 2QFY25 earnings call aptly summarizes the concerns highlighted in our ‘Know the cycle’ thematic report on automotive ER&D. Management believes the strategic consideration between electric vehicles (EVs) and hybrids led by 1) polarized policy positioning ahead of the US presidential elections, and 2) regulatory concerns related to Chinese OEMs and associated tariff in the Europe is leading to decision-making delay, tapering of demand, and smaller deal sizes as customers are cautious to committing larger, long-term projects. This likely reflects a shift from accelerated adoption to protectionism and pricing pressure which in-turn could moderate capex intensity, a key rationale for our REDUCE rating. We retain our estimates, our target price of Rs740 and await a better entry valuation.”
Today, companies like Maruti Suzuki India, Adani Enterprises, Adani Ports and Special Economic Zone, Cipla, Canara Bank, Marico, Prestige Estates Projects, SBI Cards & Payment Services, Voltas, Hitachi Energy India, Honeywell Automation, APL Apollo Tubes, Vedant Fashions, V-Guard Industries, V-Mart Retail, Force Motors, GlaxoSmithKline Pharmaceuticals, Asahi India Glass, Godrej Agrovet, Symphony, and others will release their Q2 earnings report.
With majors including Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Tech Mahindra, Reliance Industries, Bharti Airtel, HUL, ITC, Adani Wilmar, Nestle India, Zomato, Paytm, PNB, ICICI Bank, Yes Bank, Axis Bank, HDFC Bank, BHEL, Piramal Pharma, PVR INOX, Bajaj Auto, having already released their Q2 numbers, the second earnings season is now in full swing.
Greetings! With the Q2 earnings season in full swing now and many companies including TCS, HUL, HCL Technologies, Infosys, Wipro, Tech Mahindra, Bharti Airtel, Nestle, ITC, HUL, Coal India, ICICI Bank, HDFC Bank, Zomato, Paytm, and others having released their Q2 reports, we have been bringing all the updates to you. We, at FinancialExpress.com, have been collating all the relevant numbers and updating you through this live blog. We will continue to do so, going forward as well, throughout this earnings season. Stay tuned.