Page 30 - Corporate Earnings

Tech Mahindra Q2FY25 results: PAT up 153% to Rs 1,250 cr, revenue up 3.5%

IT services firm Tech Mahindra on Saturday reported a more than two-fold jump in its consolidated net profit to Rs 1,250 crore for the July-September quarter, driven by special income from the sale of assets. The Mahindra Group company posted a net profit of Rs 493.9 crore in the year-ago period, according to an exchange filing. Revenue rose by 3.49 per cent to Rs 13,313.2 crore in the second quarter of 2024-25 compared to Rs 12,863.9 crore in the same quarter of 2023-24. Other income includes gain on sale of property of Rs 4,502 million which comprises of freehold land and its related buildings along with the furniture & fixtures sold for a consideration of Rs 5,350 million, receivable over a period of four years along with interest of 8.2 per cent p.a, the company filing said. Sequentially, net profit rose by 46.81 per cent and revenue by 2.36 per cent. "We continue to progress on our strategic improvement efforts even as the overall IT services industry has remained soft. "We

HDFC Bank Q2 results preview: Muted qtr expected; loan-deposit ratio eyed

HDFC Bank share price: Ahead of the Q2 results, HDFC Bank share price gained 2.8 per cent during the three months to September

Axis Bank shares rally over 5% after Q2, but analysts cautious on outlook

Axis Bank share price: Brokerages have cut their earnings forecast by up to 5 per cent over FY25-27 to factor in Q2 results

Netflix picks up 5.1 million subscribers in Q3 as ad-tier signups grow

Streaming giant said that its ad-supported service accounted for more than 50 per cent of signups in the third quarter in countries where it was available

Earnings disappointment a catalyst for market correction: Analysts

The developments come at a time when the markets are already grappling with geopolitical developments in West Asia and the uncertainty surrounding the outcome of the US presidential polls

Polycab India Q2 results: PAT up 3.4% at Rs 440 cr, misses expectations

Revenue from operations rose 30.4% to Rs 5,498 crore, beating analysts' estimate of Rs 4,956 crore

Central Bank Q2FY25 results: Net profit rises 51% to Rs 913 crore

Recoveries from written-off accounts, treasury income boost bottom line

Havells Q2 results: Net profit rises 7.5% to Rs 268 cr on high demand

Consumer electrical goods maker Havells India Ltd on Thursday reported an increase of 7.5 per cent in its consolidated net profit to Rs 267.77 crore in the September 2024 quarter, driven by improvements in consumer demand trends. The company had posted a consolidated net profit of Rs 249.08 crore in the July-September quarter a year ago, according to a regulatory filing. Its revenue from operations rose 16.38 per cent to Rs 4,539.31 crore in the September quarter. It was Rs 3,900.33 crore in the corresponding period last fiscal. The company had a "decent overall growth across segments driven by improvements in consumer demand trends," Havells India said in a post-result investor presentation. Moreover, a shift in the festive season led to the advancement of advertising & promotion spending of Havells in the September quarter, it added. Havells India's total expenses grew 18 per cent to Rs 4,268.94 crore in the September quarter. In addition, the company settled its insurance clai

QNu Labs expects revenue to grow multi-fold to Rs 200 crore by FY26

Quantum computing startup QNu Labs expects its revenue to grow multifold to Rs 200 crore by FY26 on the Rs 500 crore pipeline from India, the Middle East and the US, a top company official said on Wednesday. QNu Labs CEO Sunil Gupta at India Mobile Congress told PTI that the growth is largely driven by the adoption of quantum security solutions in defence and interest from enterprises in the technology. "Last year, we had revenue of Rs 24 crore. This financial year, we are expecting revenue of Rs 100 crore and then Rs 200 crore in the next financial year. The growth is largely being driven by wider adoption of quantum technology in the Defence sector and gradual interest coming from enterprises," he said. Gupta said the company has deployed a quantum solution for building quantum secure digital certificates and bagged a deal from Defence through iDEX. "A large part of our revenue comes from the government and from next year, we expect over 50 per cent of our revenue to come from ..

Himadri Q2 results: PAT jumps 33% to Rs 134 cr driven by higher margins

Himadri Speciality Chemical Ltd on Wednesday reported a 33 per cent year-on-year jump in net profit to Rs 134 crore for the quarter ending September 30, 2024 (Q2FY'25), driven by higher margins. The revenue in Q2FY'25 stood at Rs 1,135 crore, reflecting a 13 per cent increase compared to Rs 1,005 crore in Q2FY'24. EBITDA surged 29.1 per cent to Rs 201 crore during the quarter, up from Rs 156 crore in the same quarter last year. Commenting on the performance, the CMD and CEO of Himadri Speciality Chemical Ltd, Anurag Choudhary, said, "Our balance sheet continues to remain strong with a positive cash balance of Rs 255 crore. Our strategic focus on profitability and a prudent balance sheet has contributed to better performance." "The successful completion of our first export shipment of liquid coal tar pitch in October 2024 paves the way for large global liquid coal tar pitch markets," he said, highlighting the company's export milestone. Choudhary further outlined the company's capit

HDFC Life Q2FY25 results: Net profit rises nearly 15% to Rs 433 crore

Its value of new business (VNB) increased 17.1 per cent Y-o-Y to Rs 938 crore in Q2, compared to Rs 801 crore in the year-ago period

HDFC AMC Q2 results: Net profit rises 32% to Rs 577 cr, total income up 38%

HDFC Asset Management Company (AMC) on Tuesday reported a 32 per cent year-on-year growth in profit after tax (PAT) to Rs 576.61 crore for the three months ended September 2024. The HDFC AMC's profit after tax stood at Rs 436.52 crore in the same quarter of the preceding financial year (FY24). Its total income rose 38 per cent to 1,058.19 crore in the July-September quarter from Rs 765.35 crore in the year-ago period, HDFC AMC said in a stock exchange filing. For the half-year ended September 2024, the company logged a PAT of Rs 1,180.37 crore and a total income of Rs 2,007 crore. Shares of HDFC AMC were trading 1.11 per cent higher at Rs 4533 on the BSE around 3 pm.

Axis Bank Q2 results preview: Analysts see modest profit growth, weak NIM

Axis Bank Q2 results: Domestic brokerage Motilal Oswal Financial estimates Axis Bank's Q2 profit after tax at Rs 6,630 crore, up 13 per cent Y-o-Y

Corporate earnings, inflation data key factors to drive markets: Analysts

Quarterly earnings of corporates, trading activity of foreign investors and inflation data are the key factors that are expected to drive the momentum in the equity markets this week, analysts said. Moreover, markets would also focus on movement in crude oil prices amid geopolitical tensions, experts added. "In the coming week, the market's direction will largely hinge on corporate earnings, with major companies like Reliance Industries, Infosys, HDFC Bank, Axis Bank, and HCL Technologies set to release their results, among others," Ajit Mishra, SVP, Research, Religare Broking Ltd, said. From the macroeconomic front, investors will keep an eye on the CPI (consumer price index-based inflation) and WPI (wholesale price index-based) inflation data for September, scheduled to be announced on Monday. Investors will also closely track updates on geopolitical tensions, particularly their impact on crude oil prices, and foreign fund flows. Key domestic economic data, including CPI and WPI

Signature Global net debt up 4% in Q2 to Rs 1,020 cr; eyes to tap demand

Realty firm Signature Global's net debt rose by 4 per cent in September quarter to Rs 1,020 crore as it looks to expand business amid strong consumer demand for housing properties. The company's net debt stood at Rs 980 crore at the end of June quarter FY25. Earlier this week, Signature Global reported that it has achieved a nearly three-fold increase in its sale bookings to Rs 2,780 crore during the second quarter on better demand for its housing projects. Its sale bookings or pre-sales stood at Rs 980 crore in the year-ago period. "Despite the 'shradhh' period, Q2, FY25 pre-sales amounted to Rs 27.8 billion, a 184 per cent increase against Q2, FY24," Signature Global had said in a regulatory filing. The company's sale bookings jumped over threefold to Rs 5,900 crore in April-September 2024-25 from Rs 1,860 crore in the year-ago period. Signature Global, which has a significant presence in the Gurugram market, clocked sale bookings of Rs 7,270 crore in 2023-24 and has a target o

JPMorgan Chase profit falls on loan loss provisions in September quarter

Banks are building up stockpiles - which act as a safeguard when borrowers default on their loans - to typical levels as consumers deplete the savings they built up during the pandemic

Tata Elxsi Q2 results: PAT up 14.7%, driven by transportation segment

Shares of the company closed 1.9% higher ahead of results on Thursday

Market Close Highlights, Oct 10: Sensex adds 144 pts, Nifty nears 25,000; Banking shares shine

Stock Market Close Highlights, Oct 10, 2024: Kotak Mahindra Bank, JSW Steel, HDFC Bank, Bharat Electronics, and IndusInd Bank were among the 23 constituent stocks of the Nifty50 that ended in the gree

It has been stock picker's market since quite some time now: Rajesh Bhatia

Our emphasis is on careful stock selection within sectors, rather than making significant overweight or underweight sector bets, Bhatia said

Asset quality key monitorable going ahead for Cholamandalam Investment

The pre-provision operating profit or PPoP was up 14 per cent Q-o-Q, which led to a return on equity or RoE at about 19 per cent in Q1FY25 despite deterioration in asset quality