Q2 Results Updates: Crisil Net Profit Rises 13%; Bajaj Auto Reports Record Quarterly Revenue
Bajaj Auto is likely to report a net profit of Rs 2,201 crore and revenue of Rs 13,253 crore, according to Bloomberg estimates.
KEY HIGHLIGHTS
Crisil's Overall Ratings Business Grew 29.6%
Overall Ratings business grew 29.6% year-on-year in the third quarter.
Global Research and Risk Solutions saw impact of curtailed discretionary spending by global clients in the quarter ended September. The business saw momentum in buy side offerings and credit lending solutions for banks.
Global Benchmarking Analytics continues to focus on deepening client relationships and building new benchmarking offerings.
Crisil Bond Issuance Grew 80% In Q3
Bond issuances grew by 80% year-on-year in third quarter of 2024, on a low base of the previous year, driven by banks and NBFCs. However, over the nine months ending Sept. 30, issuances saw a 10% year-on-year increase due to a decline in the first half of the year.
As of August 2024, bank credit growth increased by 13.6% on-year, supported by retail and services sectors, while large industry credit grew at 7.7%.
Geopolitical Uncertainties Remain A Risk, Says Crisil CEO
"Global growth patterns are diverging, with the U.S. slowing, the Eurozone recovering, and India displaying robust GDP growth. Geopolitical uncertainties remain a risk. Our businesses have demonstrated resilience, 'focusing on developing core capabilities through our domain-led IP and digital initiatives, and remain committed to creating long-term value for our stakeholders," said Amish Mehta, Managing Director and CEO, CRISIL Ltd.
Source: Press Release
Interglobe Aviation To Announce Results On Oct. 25
Interglobe Aviation is all set announce its second quarter earnings on Oct. 25, the company said on Wednesday.
Bajaj Auto's Chetaks Market Share Rises To 21% In September Quarter
Chetak’s market share has grown from 11% in the first quarter of this fiscal to 21% as of quarter ended September due to more affordable models.
Bajaj Auto has leveraged its entire motorcycle network to push Chetak electric scooters across India.
A new Chetak platform is in the works that will go on stream next year.
This can make Chetak breakeven on Ebitda basis by end of this fiscal.
Chetak is not adding to the company’s EBITDA at the moment, it’s still loss-making.
The E3W is offsetting the loss incurred in the Chetak portfolio.
Source: Bajaj Auto earnings call
