Q1 Results 2024: Another busy day on the earnings calendar today. Power Grid Corporation of India, Indigo parent firm- Interglobe Aviation, Cipla, IndusInd Bank, Punjab & Sind Bank, Bandhan Bank, Piramal Pharma, Nuvama Wealth Management, Sanofi India, KFin Technologies, TTK Prestige, Saint-Gobain Sekurit, Shriram Finance, and many others will release their Q1 numbers.
The weekend too will be in focus will companies like ICICI Bank, Punjab National Bank, IDFC First Bank, Dr Reddys Laboratories and others slated to announce their quarter earnings. Further, market participants and investors will keep an eye on earnings the coming week as well with firms like Adani Wilmar, Hindustan Petroleum Corporation, Pfizer, GAIL India, Indian Oil Corporation, Castrol India, Maruti Suzuki India, Tata Steel, Mankind Pharma, ITC, Tata Motors, Dabur India, State Bank of India, among many others, to report Q1FY25 results.
Stay tuned to Finance Express.com for all the latest earnings action.
Bandhan Bank Q1 Results
Ratan Kumar Kesh, MD & CEO, said, “During the first quarter of the year, the bank has achieved remarkable growth across key metrics. Our robust performance reflects our team's resilience and strategic agility amid challenging market conditions. Bandhan Bank's foundation is built on the trust of its customers and the unwavering commitment of its employees. These cornerstones, along with a focus on technology, process, product and people will not only sustain our growth momentum but also pave the way for even stronger performance in the future."
Bandhan Bank Q1FY25
-Net Profit jumps 47% YoY to Rs 1,063 crore from Rs 721 crore in Q1FY24
-Net Interest Income (NII) up 21% YoY to Rs 3,005 crore Vs Rs 2,491 crore in Q1FY24
-Net interest margin (NIM) at 7.6%, stable QoQ
-NPA ratio at 4.23% Vs 6.76% in Q1FY24
- Deposits grew 23% YoY reaching Rs.1.33 lakh crore as of end-June 2024
GMDC Q1FY25
-Net Profit at Rs 184.05 crore Vs Rs 218.70 crore in Q1FY24 (consolidated)
- Total Income from Operations (net) at Rs 818.13 crore Vs Rs 765.60 cr in Q1FY24
- Total Income at Rs 877.85 cr Vs Rs 826.69 crore in Q1FY24
Prathamesh Masdekar, Research Analyst, StoxBox
"We expect Cipla to work towards establishing a strong foundation for growth in upcoming quarters led by (1) Continuing leadership in chronic therapies in the branded prescription business in India, (2) Expanding differentiated pipeline in the US business and plans to launch peptide products in FY25, (3) Strong demand in South African private business and continue to maintain leadership position in pharma prescription market, and (4) Investing in future pipeline as well as focusing on regulatory issues at the Goa plant and long-term growth outlook."
Indigo's revenue from operations stood at Rs 19,570.7 crore in Q1 FY25, up 17.3% on year, compared to Rs 16,683.1 crore it reported in Q1 FY24.
InterGlobe Aviation, the owner of Indigo, reported a fall of 11.7% on year in its net profit standing at Rs 2,728.8 crore for Q1 FY25, against Rs 3,090.6 crore in Q1 FY24.
Saint-Gobain Sekurit Q1FY25
-Total Income at Rs 5273.41 crore Vs Rs 5061.15 crore in Q1FY24
-Net Profit at Rs 761.44 crore Vs Rs 705.48 crore in Q1FY24
IRB InvIT Fund Q1 total income at Rs 275 crore Vs Rs 269 crore in Q1FY24.
The highlights of the Q1 performance include
- FASTag toll collection crosses 96% mark
-Vadodara Kim project receiving stable annuities
-Refinancing of debt underway
Shriram Finance Q1FY25
-Profit after tax at Rs 1,980.59 crore Vs Rs 1,675.44 cr in Q1FY24
-Total Income at Rs 9,609.71 crore Vs Rs 8,008.01 cr in Q1FY24
TTK Prestige Q1 growth drivers include
-Double digit growth in June.
-Gross margin for the quarter higher than both last year and the immediate last quarter
-EBITDA margin healthy at 14.7% though the operating EBITDA margin dropped to 11.2% from last year’s 12.2% due to cost inflation against marginal sales growth
TTK Prestige Q1FY25
- Profit after Tax at Rs 46.9 crore
-Domestic sales at Rs 533.9 crore
- Total Sales marginally higher at Rs 551.3 crore Vs Rs 550 crore in Q1FY24
Axis Securities puts Buy rating on AU Small Finance Bank after Q1 results with a price target of Rs 631, implying 15% upside in stock value.
Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis highlighted that AI-enabled platforms are adopted at scale and listed out the growth drivers, "We continue to witness a strong growth momentum in Artificial Intelligence (AI) powered deals by leveraging our ‘Savings led Transformation TM ’ theme. We are seeing a steady improvement in client demand, and with the strength of our deal pipeline, we remain cautiously optimistic that this trend will continue to improve in our core markets.”
Mphasis Q1FY25
-Net profit up 2.9% QoQ to Rs 404.5 crore, EPS up 2.8% QoQ
-Gross Revenue up 0.2% QoQ and rises 4.6% YoY on reported basis and declined 0.1% QoQ and grew 3.1% YoY in Constant Currency
-Direct revenue increased 0.6% QoQ and 5.6% YoY on reported basis and grew 0.3% QoQ and 4.1% YoY in Constant Currency
-New TCV wins at $319 million in Q1 FY25
JM Financial Institutional Securities put a Buy rating on Tech Mahindra with a price target of Rs 1,760.
According to the brokerage the upgrade is on the back of progress across operating and financial parameters in the first quarter of its three-year turnaround journey.
Tech Mahindra's EBIT margins expanded 110bps, highest operational improvement in past 14 quarters along with a pick up in deal wins.
Elara Securities India put Accumulate rating on Jyothy Labs with a price target of Rs 600.
According to Elara, the Q1 revenue for Jyothy Labs grew 8% YoY, slightly below estimates of 9.2%. Growth was primarily driven by a 10.8% YoY rise in volume, led by market share gains, resulting from distribution expansion.
They reiterated that Dishwashing saw a 7.1% YoY increase due to focus on low unit packs (LUP) in Exo as well as larger Pril packs performing well. Personal care growth was bolstered by the success of new variants. However, household insecticide (HI) sales grew by a mere 2% YoY due to an extended Summer and extreme heatwave across key markets.
Prabhudas Lilladher has cut FY25/26 EPS estimates for McDonald's Holding company in India - Westlife Foodworld.
They cut the FY25 estimates by 36.1% following decline of 6.7% in SSG, pressure on margins and benign growth outlook in H1FY25. Sales were impacted by poor sentiments in some geographies (70-80 stores) led by geo-political issues. They see pace of improvement to be slower and expect WFL to return to positive SSG by fag-end of Q3.
Higher overheads on new stores and accelerated store openings will affect margins and profitability in H1FY25 as well.
Hello and Welcome to the daily earnings blog on Financial Express.com. Its another hectic day in the earnings calendar. Over 60 companies are set to declare the Q1 results today. Keep tracking our blog for the latest updates.