Q2 Earnings 2024: Companies across sectors and all of theIT services giants have already released their fiscal second quarter numbers. Firms including Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Tech Mahindra, Reliance Industries, Bharti Airtel, HUL, ITC, Marico, Dabur India, Adani Wilmar, Nestle India, BHEL, L&T, Adani Enterprises, Punjab National Bank, Axis Bank, HDFC Bank, IRCTC, Bata India, 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 reports.
Today, companies like Titan Company, GAIL India, Mankind Pharma, Dr Reddy’s Laboratories, Max Healthcare Institute Limited, Mazagon Dock Shipbuilders, Oil India, PB Fintech, Berger Paints India, SJVN, Waaree Renewable Technologies, Raymond Lifestyle, Manappuram Finance, Saregama India, JK Tyre and Industries, Wonderla Holidays, Muthoot Microfin, Fortis Malar Hospitals, 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.
Tilaknagar Industries Ltd reported its fiscal second quarter earnings with consolidated profit at Rs 58.23 crore, up 57.2 per cent in comparison to Rs 37.04 crore during the same period of previous fiscal year. It posted revenue from operations at Rs 823.32 crore, up 9.7 per cent in comparison to Rs 750.18 crore during the second quarter of FY24.
Real Estate business
Raymond Realty posted a strong quarter with a revenue of Rs 571 crore in Q2FY25 from Rs 243 crore in Q2FY24 recording a growth of 135 per cent. The segment reported an EBITDA of Rs 112 crore in Q2. During the quarter, Raymond Realty launched Park Avenue – High Street Reimagined Retail with RERA carpet area of 0.08 million sq ft in the month of September 2024. In Q2 FY25, the company achieved a strong booking value of Rs 562 crore, primarily driven by demand for ‘TenX ERA’, Sale of Retail shops in Thane and in JDA ‘The Address by GS’ in Bandra.
Engineering business
The segment reported sales of Rs 443 crore in Q2 FY25, doubling revenue compared to Rs 201 crore in the same quarter of the previous year. Revenue for Q2 included revenue from MPPL of Rs 225 crore, which was acquired in March 2024. The segment delivered an EBITDA margin of 11.0 per cnt in Q2FY25. The performance was driven by support from the domestic markets for Flex plates, Ring Gear & Shaft Bearings categories. However, exports remained sluggish on account of weak demand and geopolitical issues.
Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited, said, “We witnessed good momentum both in Real Estate and Engineering businesses. With the launch of Park Avenue- High Street Reimagined, the first of its kind retail space in Thane, Raymond Realty has taken yet another pioneering step to create the aspirational ecosystem for its current and upcoming residential projects. The project execution remains our USP as our endeavor is to continue to deliver before RERA timelines. The seamless integration of Maini operations with JK Engineering has taken an affirmative shape and has started positive results with growth in the overall engineering business.”
Raymond Limited delivered a profit jump of 112.0 per cent for the fiscal second quarter at Rs 59.01 crore in comparison to Rs 27.83 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 1044.74 crore, up 122.2 per cent as against Rs 470.08 crore during the same period of previous financial year. The company EBITDA stood at Rs 116 crore.
A report by Motilal Oswal Financial Services stated, “With two years of earnings decline in FY23/FY24, we believe the earnings are largely at trough and expected to experience revival over FY25-27. We expect 20% earnings CAGR over FY25-27, led by a) increased volume offtake of base products such as enoxaparin, b) EBITDA break-even of Cenexi and subsequent better operating leverage, c) additional business in the biologics segment, and d) commercialization of new products in the core market segment. Considering this outlook and stock trading at 16x/14x FY26/FY27 EV/EBITDA and 27x/22.5x FY26/FY27 PE, we reiterate BUY.”
Today, majors including Titan Company, GAIL India, Mankind Pharma, Dr Reddy’s Laboratories, Max Healthcare Institute Limited, Mazagon Dock Shipbuilders, Oil India, PB Fintech, Berger Paints India, SJVN, Waaree Renewable Technologies, Raymond Lifestyle, Manappuram Finance, Saregama India, JK Tyre and Industries, Wonderla Holidays, Muthoot Microfin, Fortis Malar Hospitals, among others are lined up to release their Q2 results.
With majors like Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Tech Mahindra, Reliance Industries, Bharti Airtel, HUL, ITC, Marico, Dabur India, Adani Wilmar, Nestle India, Bata India, L&T, Zomato, Paytm, IRCTC, PNB, ICICI Bank, Yes Bank, Axis Bank, HDFC Bank, BHEL, Piramal Pharma, PVR INOX, Maruti Suzuki, Bajaj Auto, already having released their Q2 numbers, the second quarter earnings season is now in full swing.
Good Morning! We, at FinancialExpress.com, have been continuously updating you with the latest Q2 numbers released by companies across sectors, this earnings season. Moving forward as well, we will continue to keep you updated on these numbers, reasons leading to growth and even factors affecting the businesses. Stay tuned.