Page 97 - Q2 Results

Sula Vineyards' net revenue up 14% to Rs 116.2 crore in September quarter

Leading wine producer Sula Vineyards Ltd on Wednesday said its net revenue from its own brands has grown to Rs 116.2 crore in the September quarter, registering an increase of 14 per cent. Its wine tourism business was up 26 per cent at Rs 12.1 crore, Sula Vineyards said in its "Sales Update Q2 & H1 FY24". According to the company, this is the "highest-ever Q2 net revenues overall as well as for the priority Own Brands and Wine Tourism businesses". Its net revenue from its own brands in the July-September quarter a year ago was at Rs 102 crore and wine tourism at Rs 9.6 crore. "The company is anticipating a strong harvest once again despite the irregular monsoon, which bodes very well for meeting the increasing demand for our elite and premium wines," it said. During the quarter, Sula also expanded the Nasik winery tasting room, to keep up with the continuing surge in visitor numbers. "The future looks even brighter as we achieved our highest ever footfall on Oct 1, 2023, with a

Delta Corp posts marginal Q2 profit rise, brings in new finance chief

The company's tax expenses in the quarter fell 7.4%, making way for profits as total revenue stayed flat with a 0.2% rise to 2.71 billion rupees

TCS Q2FY24 result: Net profit up 8.7%; buyback worth Rs 17,000 cr announced

TCS also announced a dividend of Rs 9 per share. The record date will October 9, 2023 and the payment date is November 7, 2023

Sensex leaps 394 pts, Nifty ends at 19,811; Auto stocks gain most, PSBs dip

Stock market highlights on Wednesday, October 11: The BSE Sensex closed 394 points higher at 66,473 after easing from the day's high of 66,592. The NSE Nifty ended at 19,811, up 120 points

HCLTech Q2 preview: ASAP deal to aid revenue growth; guidance revision eyed

HCL Tech Q2FY24 results preview: HCL Tech may post a 7 per cent yearly profit growth to Rs 3,739 crore, as per an average of six brokerage estimates, while revenue is pegged to rise 8.8 per cent YoY

Infosys Q2FY24 preview: Subdued earnings on cards despite mega deal wins

Infosys Q2FY24 results preview: Infosys' net profit may rise just 3.8 per cent on-year to Rs 6,252 crore, while revenue may see a 5 per cent uptick to Rs 38,437 crore

TMS Ep539: Israel-Palestine war, Hamas, GST Council meet, IT Q2 results

How will Israel-Palestine war affect India? What were key outcomes of the recent GST Council meet? How will Indian IT companies fare in second quarter? What is Hamas? All answers here

Life insurers face value of new business margin pressure in second quarter

Premium of General ins cos likely to be robust in Q2FY24

Private equity investment fall by 65% to $1.81 bn in quarter ending Sept

Private equity (PE) investments in India fell 65.4 per cent to USD 1.81 billion in July-September 2023 as compared to the year-ago period, according to an industry report. In the year-ago period, PE investment was USD 5.23 billion. The number of deals also declined steeply by 50.1 per cent to 232 from 465 deals in Q3 2022, according to the data collated by Refinitiv, which is a London Stock Exchange Group (LSG) business. On a sequential basis, the number of deals fell 34.2 per cent from 353 in Q2 2023, and in value term it declined by 35.2 per cent from USD 2.79 billion. For the first nine months (January-September 2023), the Internet specific and computer software companies continued to attract maximum PE interest with USD 2.80 billion and USD 1.48 billion invested. But this is 63.2 per cent down from the year-ago period with the number of deals declining to 283 from 414 in the first nine month of 2022. PE investment in computer software was down 74.9 per cent, financial services

JSW Steel's consolidated production grows 13% to 6.41 MT in July-September

JSW Steel has posted 13 per cent rise in its consolidated production to 6.41 million tonne (MT) for July-September 2023-24. It had produced 5.68 MT crude steel during the second quarter of 2022-23, the company said in a statement on Tuesday. However, on a quarter-on-quarter (q-o-q) basis, the production was lower by 3 per cent, primarily due to scheduled shutdowns undertaken at Indian operations and lower capacity utilisation at USA-Ohio due to market conditions, JSW Steel said. In the previous quarter, the company's consolidated output was at 6.61 MT. In India, JSW Steel produced 6.27 MT as against 5.60 MT in July-September 2022-23 and 6.37 MT in April-June 2023-24. JSW Steel USA - Ohio output increased to 0.14 MT from 0.08 MT in the same quarter last fiscal. JSW Steel further said "the merger of the Joint Venture, Creixent Special Steels Limited along and its subsidiary JSW Ispat Special Products Limited (JISPL) with the company has become effective on 31 July 2023." The compa

TCS Q2 preview: Revenue, profit seen rising in single-digits; buyback eyed

TCS Q2FY24 preview: TCS could see a 9 per cent profit growth from last year to Rs 11,396 crore

Top IT cos log muted sequential growth in Q2 amid sustained macro overhang

Large Indian IT services companies are expected to report "muted" sequential show in a traditionally strong second quarter, as macroeconomic challenges continue to weigh on global discretionary spending, say market watchers. The big earnings week for tech heavyweights is up ahead, with Tata Consultancy Services (TCS) scheduled to announce its results on October 11, and both Infosys and HCL Technologies on October 12. Wipro is slated to declare its Q2FY24 results next week, on October 18. Analysts tracking the sector are bracing for a subdued sequential performance by the large IT-pack saying weakness seen in Q1 is likely to persist with no meaningful signs of recovery or deterioration, thus dashing any hopes of a quick turnaround. "We expect Q2FY24, though seasonally strongest, to remain weak from a sequential growth perspective with quarter-on-quarter CC (constant currency) growth varying from -1 per cent (Tech Mahindra) to +1.9 per cent (HCLTech) among the top-five firms," ICICI .

Titan posts 20% Q2 revenue growth, Jewellery biz reports 19% revenue growth

Leading jewellery and watchmaker Titan on Friday reported a 20 per cent growth in standalone revenue for the second quarter ended September 30, 2023. During the period, it added 81 stores across verticals, taking the group's retail presence to 2,859 outlets, according to a quarterly update by Titan. Its jewellery division reported a revenue growth of 19 per cent. Building on the positive first quarter momentum, domestic consumer sales (secondary) exhibited strong year-on-year growth and were led by double-digit increase in buyers and ticket sizes. Moreover, as part of its global expansion, its jewellery brand Tanishq expanded its Gulf Cooperation Council (GCC) presence by entering Qatar and adding two new boutiques in Doha. The Jewellery Division added 39 stores, taking the total count to 598. The Watches & Wearables (W&W) Division's domestic business grew 32 per cent. This comprises 22 per cent growth in the Analog watches and over two-fold growth in Wearables. "The Wearables

Dabur flags weak Q2 operating profit on delayed monsoon, festive season

Dabur, which sells Vatika Shampoo and Honitus cough syrup brands, said improving macro economic indicators and positive consumer sentiment will help in "gradual" recovery in urban and rural markets

Q2 profitability under stress on lower edible oil prices, says Adani Wilmar

Sales value from edible oil constituted a hefty 74% of the company's topline in the September quarter. Low edible oil prices also contributed to its swing to loss in the June quarter

Macrotech Developers' sales bookings up 12% annually to Rs 3,530 cr in Q2

Realty firm Macrotech Developers on Thursday reported a 12 per cent year-on-year growth in sales bookings to Rs 3,530 crore during the July-September period on strong housing demand. The company had clocked sales bookings of Rs 3,150 crore in the corresponding period of the last financial year. In a regulatory filing, Macrotech Developers, which sells its projects under the Lodha brand, informed that the company achieved its best-ever quarterly pre-sales performance of Rs 3,530 crore in Q2 of FY'24. Macrotech Developers said it has achieved 48 per cent of its FY24 pre-sales guidance fixed at Rs 14,500 crore. In the entire 2022-23 financial year, Macrotech Developers had clocked a sales bookings of Rs 12,060 crore. Fund collections from customers stood at Rs 2,752 crore, up 16 per cent year-on-year (YoY). "Strong underlying end-user demand for branded homes enabled us to deliver our best-ever quarterly pre-sales. This was despite the fact that this is generally the weakest quarter

Vedanta's aluminium production rises 2% to 594,000 tonnes in Jul-Sept

Vedanta on Tuesday said that its total aluminium production increased by two per cent to 5,94,000 tonnes in the second quarter of the ongoing fiscal. The company's total aluminium output in the July-September period of the last fiscal was 5,84,000 tonnes, Vedanta said in a filing to BSE. The mined metal output at Zinc India was marginally down to 2,52,000 tonnes, over 2,55,000 tonnes in the year-ago period. At Zinc International, the company's total mined metal output was down by 10 per cent to 66,000 tonnes, over 74,000 tonnes. The company's "overall production at 66 kt, (was) lower by 10 per cent YoY and 3 per cent QoQ largely due to lower tonnes treated", it said. The company further said that its saleable steel production increased 17 per cent Y-o-Y to 3,78,000 tonnes on account of improved operational efficiency and higher production capacity post debottlenecking carried out in FY23. Power sales increased by 12 per cent to 4,048 million units (MU), over 3,615 MU in the year

DMart's operational revenue rises 18.51% to Rs 12,307 crore in Jul-Sept

Avenue Supermarts Ltd, which owns and operates retail chain DMart, on Wednesday reported an 18.51 per cent increase in its standalone revenue from operations at Rs 12,307.72 crore in the second quarter of this fiscal. The company had registered a revenue from operations of Rs 10,384.66 crore in the July-September quarter a year ago, Avenue Supermarts informed BSE in a regulatory filing. "Standalone Revenue from operations for the quarter ended September 30, 2023, stood at Rs 12,307.72 crore," said Avenue Supermarts in the regulatory filing while sharing the company's update at the end of the quarter. The total number of DMart stores as of September 30, 2023 stood at 336. In the July-September quarter of FY22, Avenue Supermarts' standalone revenue stood at Rs 7,649.64 crore. Promoted by Radhakishan Damani and his family, DMart retails basic home and personal products across markets which include Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgar

Federal Bank advances up 20% to Rs 1.95 trillion in September quarter

The pace of loan growth for the private lender was higher than the 15.1% y-o-y growth in advances of the banking system until 8 September 2023, according to RBI data

Results preview: IT companies brace for Q2 setback on muted growth

Analysts are expecting that the momentum in the closure of record total contract value (TCVs) will continue, as has been the case over the last two quarters