Q2 Results Today: Indian stock market has been volatile amid mixed global cues and domestic corporate earnings seasons. A total of 36 companies will announce their financial results for the second quarter of FY25 today.
The companies that will declare Q2 results today include Infosys, Wipro, Axis Bank, LTIMindtree, Nestle India, Tata Chemicals, Tata Communications, Indian Overseas Bank, Central Bank of India, Havells India, Jindal Stainless, Ceat and Polycab India.
Apart from these, 5paisa Capital, Geojit Financial Service, Dhanlaxmi Bank, Ador Multiproducts, Amalgamated Electricity Co., ARC Finance, Continental Securities, Deccan Bearings, Eimco Elecon (India), Galaxy Egrico Exports, Gujarat Lease Financing, Harshil Agrotech, IGC Industries, Mahindra EPC Irrigation, Moohgipa Capital Finance, National Standard, Quick Heal Technologies, Shemaroo Entertainment, Steel Exchange India, SW Investments, and Tanla Platforms will also announce their Q2 results today.
Infosys, the second largest IT service company in India, is estimated to report a growth in revenue led by large deal wins, but margins are likely to be stable. In the quarter ended September 2024, Infosys’ revenue is expected to grow 3.74% to ₹40,785 crore from ₹39,315 crore in the previous quarter. In USD terms, Q2 revenue is estimated to rise 3.2% sequentially to $4,865 million, according to a Livemint poll of eight brokerages.
The IT major’s net profit in Q2FY25 is expected to see 5.86% QoQ growth to ₹6,741 crore, while EBIT is estimated to rise 4.3% QoQ to ₹8,636 crore, and EBIT margin may improve by 7 bps to 21.17%.
Most D-Street analysts estimate Wipro to post decent net profit growth, however, margin and revenue are likely to be flat due to softer deals and the impact of the one-month wage hike. An average of brokerage estimates indicates that Wipro's net profit is likely to rise between 9-12%, while revenue may drop 2%.
Private sector lender Axis Bank is expected to report an 8-9% year-on-year (YoY) increase in its net profit for the quarter ending September 2024, led by growth in net interest income (NII), non-interest income, and reduced slippages.
According to the average estimate from five brokerages, Axis Bank's NII in Q2FY25 is projected to grow by 10% YoY. While slippages are anticipated to increase by 29% YoY, they are expected to decline by 12% compared to the previous quarter.
Loan growth for the quarter is expected to be modest, with a 2% increase QoQ, but a stronger 11% rise YoY.
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