The earnings season is all set to kick off this week, with few of the major companies like Tata Consultancy Services (TCS), IREDA, Tata Elxsi, Avenue Supermarts (DMart), Anand Rathi Wealth set to announce their performance for the quarter ending on September 31, 2024. The Q2 results are highly anticipated as these will provide insights into the performance and financial health of prominent companies across sectors.
Per a report by Elara Securities, Q2FY25 is set to be the first in seven quarters to see a decline in YoY and QoQ earnings, as domestic cyclicals may struggle to fully offset the persistent drag from commodity sectors. “An unfavorable base further exacerbates the anticipated weakness. We expect 5.4 per cent sales growth for our coverage universe in Q2FY25E. However, earnings are likely to fall 5 per cent YoY, weighed by a likely 157bp YoY contraction in ex-financials EBITDA margin. Excluding commodities, revenue and PAT growth are likely to be around 9 per cent each, suggesting the underlying growth momentum could be slowing,” it said.
Further, Motilal Oswal Financial Services (MOFSL) said that the earnings are expected to remain flat for its coverage, while those of Nifty would grow 2 per cent YoY during Q2. “The modest earnings growth is likely to be driven once again by BFSI, with positive contributions from Technology, Utilities and Healthcare. Banks (Private + PSB) would mainly lead BFSI’s earnings, with 10 per cent YoY growth. The earnings growth of Private and PSU banks, at 5 per cent and 17 per cent YoY, respectively, while healthy, is the lowest for Private banks in 12 quarters. The Auto sector’s earnings are likely to rise 7 per cent YoY, the lowest in ten quarters,” it said.
Manohar International Airport launches GOX pass to boost Goa tourism – Details inside
Slow start for smartphone sales this festive season
Upcoming IPOs This Week: Manba Finance to KRN Heat Exchanger: 3 new IPOs and 12 listings
Railways to launch special ticket-checking drive to combat ticketless travel
Here are Q2FY25 earnings that will be released this week:
Oct 7: Himalaya Food International Ltd, Shrenik, Padam Cotton Yarns, Genomic Valley Biotech, Orosil Smiths India, CMI.
Oct 8: Navkar Corporation, Emerald Finance, Hawa Engineers, Gautam Gems, Darshan Orna.
Oct 9: Lotus Chocolate Company, GTPL Hathway, Western Carriers India, Vivid Mercantile, Rhetan TMT, Kretto Syscon, RO Jewels.
During the first quarter of the current fiscal year, Lotus Chocolate had reported consolidated net profit of Rs 9.40 crore, higher than Rs 0.19 crore posted in Q1FY24. It had posted revenue from operations at Rs 141.30 crore in the first quarter of FY25 from Rs 32.30 crore recorded in Q1FY24.
Oct 10: Tata Consultancy Services, Indian Renewable Energy Development Agency, Tata Elxsi, Anand Rathi Wealth, Arkade Developers, Den Networks, GM Breweries, Hathway Bhawani Cabletel And Datacom, Ashoka Metcast Limited.
IT major Tata Consultancy Services Ltd (TCS) had recorded a consolidated first quarter net profit at Rs 12,040 crore, up 8.7 per cent year on year (YoY) despite degrowth in several business YoY. Net margin for the quarter ending June 30, 2024 was at 19.2 per cent. It had posted revenue for the quarter at Rs 62,613 crore as against Rs 59,381 crore in the same quarter last fiscal.
During the April-June quarter, the company had also reported an increase on the hiring front, its first after three straight quarters of decline. The company saw its headcount increase by 5,452 sequentially, ending the April-June period with a total headcount of 606,998. During the March quarter, TCS had reported a sequential headcount dip of 1,759, even as revenue grew 3.5 per cent on-year.
Oct 11: Hathway Cable and Datacom, Reliance Industrial Infrastructure, Plastiblends India, Atishay, PVV Infra.
Oct 12: Avenue Supermarts.
Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, had reported its fiscal first quarter earnings with profit at Rs 773.82 crore, up 17.5 per cent in comparison to Rs 658.71 crore during the same period last year. It had posted revenue from operations at Rs 14,069.14 crore, up 18.6 per cent YoY. The company EBITDA was up 18 per cent at Rs 1,221.3 crore as against Rs 1,035.3 crore on-year.
From: financialexpress
Financial News
