Q2 Results Updates: Indus Towers Net Profit Jumps 72%; Shoppers Stop Reports Loss

IIFL Securites Q2 Highlights (Consolidated, YoY)

• Total income rises 32% at Rs 704 crore versus Rs 534 crore.

• Net profit rises 90% at Rs 205 crore versus Rs 108 crore.

Bajaj Finance expects rural B2C portfolio to remain yellow as improvement is visible said Rajeev Jain, Managing Director at Bajaj Finance. The company expects the rural B2C portfolio at 14% for financial year 2025.

While there is improvement the company will remain watchful. "Will not say no to good business in B2C," said Jain.

Source: Analyst Call

Ugro Capital Q2 Highlights (Consolidated, YoY)

• Total Income rose 35.2% at Rs 343 crore versus Rs 254 crore.

• Net profit rose 22.9% at Rs 35.5 crore versus Rs 28.9 crore.

Indus Towers Q2 Highlights (Consolidated, YoY)

• Revenue up 4.7% at Rs 7,465 crore versus Rs 7,133 crore.

• Ebitda up 42% at Rs 4,907 crore versus Rs 3,456 crore.

• Margin at 65.7% vs 48.5%.

• Net profit up 71.7% at Rs 2,224 crore versus Rs 1,295 crore.

Max Financial Q2 Highlights (Consolidated, YoY)

• Total income grows 31.3% at Rs 13,376 crore versus Rs 10,189 crore.

• Net profit down 18.2% at Rs 139 crore vs Rs 170 crore.

Shoppers Stop Q2 Highlights (Consolidated, YoY)

• Revenue up 7.3% to Rs 1,114.87 crore versus Rs 1,039.12 crore.

• Net loss at Rs 20.59 crore versus Rs 2.73 crore.

• Ebitda down 7% to Rs 149.83 crore versus Rs 160.92 crore.

• Margin at 13.4% versus 15.5%.

Gabriel India Q2 Highlights (Consolidated, YoY)

• Revenue up 18.8% to Rs 1,027.09 crore versus Rs 864.45 crore.

• Net profit up 36% to Rs 62.92 crore versus Rs 46.33 crore.

• Ebitda up  34% to Rs 98.71 crore versus Rs 73.83 crore.

• Margin at 9.6% versus 8.5%.

• Board approves interim dividend of Rs 1.75 per share.

Bajaj Finance has plans to keep loan book composition steady said Rajeev Jain, Managing Director at Bajaj Finance.

Source: Analyst Call

Bajaj Finance expects improvement in NIMs to shift to secured portfolio said Rajeev Jain, Managing Director at Bajaj Finance. He also added that the NIMs have stabilised at these levels. He also said lower default rates, recent underwriting actions provided comfort on credit costs.

Source: Analyst Call

Bajaj Finance's credit cost guidance for financial year 2025 has been hiked from 1.75-1.85% to 2-2.05%.

Source: Analyst Call

Bajaj Finance is optimistic of touching 100 million customers franchise by the end of this fiscal said Rajeev Jain, Managing Director at Bajaj Finance.

He also said deposit growth has been softer because of sector wide pricing war.

Source: Analyst Call

The new businesses of Bajaj Finance are contributing 2-3% of AUM growth, said Rajeev Jain, Managing Director at Bajaj Finance. The cost of funds for the company have also peaked he added.

Source: Analyst Call

The loan losses in the second quarter remained elevated, said Rajeev Jain, Managing Director at Bajaj Finance. On the other hand, the profit and margin growth remained muted.

Source: Analyst Call

ICICI Prudential Q2 Highlights (Standalone, YoY)

• Net premium income up 7% to Rs 10,754 crore versus Rs 10,022 crore.

• Net Profit up 3% at Rs 251 crore versus Rs 244 crore.

• Solvency ratio at 188.6% versus 187.9% quarter-on-quarter.

• 13th month persistency at 86.6% vs 85.7% quarter-on-quarter.

Olectra Greentech Q2 Highlights (Consolidated, YoY)

• Revenue up 70.5% to Rs 524 crore versus Rs 307 crore.

• Net Profit at Rs 47.7 crore versus Rs 18.6 crore.

• Ebitda at Rs 81.2 crore versus Rs 40.5 crore.

• Margin at 15.5% versus 13.2%.

GMDC Q2 Highlights (Consolidated, YoY)

• Revenue up 54.9% to Rs 593 crore versus Rs 383 crore.

• Net Profit up 71.4% to Rs 128 crore versus Rs 74.6 crore.

• Ebitda at Rs 141 crore versus Rs 52.9 crore.

• Margin at 23.8% versus 13.8%.

Madhur Deora, president & group CFO of Paytm, believes that UPI market share cap will be done to avoid concentration risk. He mentioned that the company is awaiting approval for new UPI customer additions from the RBI.

The company has onboarded Paytm Payments Bank users on One97 Communications as a third party player, he added.

Source: Con Call

Responsive Industries Q2 Highlights (Consolidated, YoY)

• Revenue up 30.3% to Rs 350 crore versus Rs 268 crore.

• Net Profit up 21.2% to Rs 49.3 crore versus Rs 40.7 crore.

• Ebitda up 18.6% to Rs 72.5 crore versus Rs 61.1 crore.

• Margin at 20.7% versus 22.8%.

Bajaj Finance Q2 Highlights (Consolidated, QoQ)

• Income up 28% to Rs 17,095 crore versus Rs 13,384 crore.

• Net Profit up 13% at Rs 4,014 crore versus Rs 3,551 crore.

• NII up 23% at Rs 8,838 crore vs Rs 7,190 crore.

• AUM up 29% to Rs 3.73 lakh year-on-year.

• Gross NPA at 1.06%.

• Net NPA at 0.46%.

• Exceptional gain of Rs 2,544 crore in half-year standalone balance sheet on account of Bajaj Housing stake sale.

Paytm CEO Vijay Shekhar Sharma does not believe soundbox will be a material revenue contributor and will remain an experimental product. The company is trying to defend it by creating more revenue per product, he added.

Source: Con Call

The company stated that margins have not increased due to ongoing store expansions. Currently, adverse weather conditions are not affecting the business, they added.

Source: Con Call

Chennai Petroleum Corp. Q2 Highlights (Consolidated, QoQ)

• Revenue down 29.2% to Rs 12,086 crore versus Rs 17,095 crore.

• Net loss at Rs 634 crore versus Rs 357 crore.

• Ebitda down to Rs 675 crore versus Rs 663 crore.

Delhi NCR's share has fallen to less than 40% from 47% a couple of quarters ago, reported Zomato.

The company also stated that the average order value of the top seven to eight cities is similar.

Capex increase was on account of expansion of stores, Zomato added.

Source: Con Call

Zomato Q2 Highlights (Consolidated, YoY)

• Revenue up 69% to Rs 4,799 crore versus Rs 2,848 crore.

• Net Profit at Rs 176 crore versus Rs 36 crore.

• Ebitda to Rs 226 crore versus loss of Rs 47 crore.

• Margin at 4.7%.

Choice International Q2 Highlights (Consolidated, YoY)

• Revenue up 29.6% to Rs 247 crore versus Rs 191 crore.

• Net Profit up 55.3% to Rs 46.5 crore versus Rs 29.9 crore.

• Ebitda up 55.88% to Rs 75.8 crore versus Rs 48.7 crore.

• Margin at 30.7% versus 25.5%.

The order booking of Persistent Systems for the quarter ended on Sept. 30, 2024, was at $529.0 million in Total Contract Value and at $348.3 million in Annual Contract Value terms.

Mahindra and Mahindra Financial Services Ltd. posted a 57% jump in its standalone net profit at Rs 369 crore, compared to Rs 235 crore in the year-ago period.

The standalone revenue during the same period jumped 21% to Rs 3,897 crore, as against Rs 3,212 crore in the corresponding period of the previous fiscal.

Welspun Specialty Solutions Q2 Highlights (Consolidated, YoY)

• Revenue fell 19.4% at Rs 167 crore versus Rs 208 crore.

• Ebitda down 77% at Rs 2.8 crore versus Rs 12 crore.

• Margin at 1.6% versus 5.8%.

• Net loss of Rs 6.4 crore versus profit of Rs 5.2 crore.

Amber Enterprises Q2 Highlights (Consolidated, YoY)

• Revenue up 81.7% to Rs 1,684.70 crore versus Rs 927.06 crore.

• Net Profit rises to Rs 20.96 crore versus loss of Rs 5.65 crore.

• Ebitda up 91% to Rs 113.73 crore versus Rs 59.56 crore.

• Margin at 6.8% versus 6.4%.

Persistent Systems Q2 Highlights (Consolidated, QoQ)

• Revenue up 5.8% to Rs 2,897.15 crore versus Rs 2,737.17 crore.

• Net profit up 6% to Rs 325 crore versus Rs 306.52 crore.

• EBIT up 6% to Rs 406.23 crore versus Rs 384.04 crore.

• Margin flat at 14.0%.

Zensar Technologies Q2 Highlights (Consolidated, QoQ)

• Revenue up 1.6% at Rs 1,308 crore versus Rs 1, 288crore.

• EBIT down 29% at Rs 171.5 crore versus Rs 242 crore.

• EBIT margin at 13.1% versus 18.8%

• Net profit down 1.3% at Rs 156 crore versus Rs 158 crore.

Shanthi Gears Q2 Highlights (Consolidated, YoY)

• Net profit rises 21.8% at Rs 25.6 crore versus Rs 21 crore.

• Revenue jumps 14.5% at Rs 155 crore versus Rs 135 crore.

• Ebitda rises 18.9% at Rs 34.2 crore versus Rs 28.7 crore.

• Margin At 22% versus 21.2%.

Huhtamaki India Q2 Highlights (Consolidated, YoY)

• Revenue down 1.5% at Rs 653 crore versus Rs 663 crore.

• Ebitda down 60% at Rs 18 crore versus Rs 46 crore.

• Ebitda margin at 2.8% versus 6.9%.

• Net profit down 64% at Rs 11.7 crore versus Rs 32.3 crore.

Zomato approves raising of funds up to Rs 8,500 crore through QIP.

Zomato Q2 Highlights (Consolidated, QoQ)

• Revenue up 14.1% to Rs 4,799 crore versus Rs 4,206 crore.

• Net profit down 30% to Rs 176 crore versus Rs 253 crore.

• Ebitda up 28% to Rs 226 crore versus Rs 177 crore.

• Margin at 4.7% versus 4.2%.

SRF Q2 Highlights (Consolidated, YoY)

• Revenue up 8% at Rs 3,424 crore vs Rs 3,177 crore.

• Ebitda down 14% at Rs 538 crore vs Rs 626 crore.

• Ebitda margin at 15.7% vs 19.7%.

• Net profit down 33% at Rs 201 crore vs Rs 301 crore.

• The company will invest Rs 1,100 crore for new facilities in Dahej, Gujarat.

Adani Green Energy Q2 Highlights (Consolidated, YoY)

• Revenue up 38% at Rs 3,055 crore versus Rs 2,220 crore.

• Ebitda up 30% at Rs 2,205 crore versus Rs 1,699 crore.

• Net profit up 39% at Rs 515 crore versus Rs 371 crore.

Adani Energy Solutions Ltd.'s profit rose in the second quarter of fiscal 2025.

The Adani Group company, led by billionaire Gautam Adani, reported a 172% year-on-year increase in profit to Rs 773.39 crore in the July–September quarter.

Adani Energy Solutions Q2 Highlights (Consolidated, YoY)

• Revenue up 68% at Rs 6,184 crore versus Rs 3,674 crore.

• Ebitda up 19% at Rs 1,787 crore versus Rs 1,505 crore.

• Ebitda margin at 28.9% versus 40.9%.

• Net profit up 172% at Rs 773 crore versus Rs 284 crore.

Jubilant Ingrevia Q2 Highlights (Consolidated, YoY)

• Revenue up 2.5% at Rs 1,045 crore versus Rs 1,020 crore.

• Ebitda up% 5.9% At Rs 125 crore versus Rs 118 crore.

• Margin at 11.9% versus 11.5%.

• Net profit up 2.6% at Rs 59 crore versus Rs 57.5 crore.

Aditya Birla Real Estate Q2 Cons YoY

• Revenue up 31% at Rs 1,128 crore vs Rs 863 crore

• EBITDA up 60% at Rs 88 crore vs Rs 55 crore

• EBITDA margin at 7.8% vs 6.4%

• Net profit at Rs 3 crore vs loss of Rs 33 crore

Kajaria Ceramics Q2 Highlights (Consolidated, YoY)

• Net Profit down 22.8% at Rs 85.5 crore vs Rs 111 crore

• Revenue up 5.1% at Rs 1,179 crore vs Rs 1,122 crore

• EBITDA down 12.2% at Rs 158 crore vs Rs 180 crore

• Margin at 13.4% vs 16.1%

Goodyear India Q2 Highlights (Standalone, YoY)

• Revenue down 1% at Rs 682 crore versus Rs 690 crore.

• Ebitda down 50% at Rs 31 crore versus Rs 61 crore.

• Ebitda margin at 4.5% versus 8.9%.

• Net profit down 59% at Rs 15.7 crore versus Rs 37.9 crore.

Supreme Industries Q2 Highlights (Consolidated, YoY)

• Revenue down 1.6% at Rs 2,273 crore versus Rs 2,309 crore.

• Net profit down 15% at Rs 207 crore versus Rs 243 crore.

• Ebitda margin at 14.1% versus 15.4%.

• Ebitda down 10% at Rs 320 crore versus Rs 356 crore.

ICICI Securities Q2 Highlights (Consolidated, YoY)

• Net profit up 24.9% at Rs 529 crore versus Rs 424 crore.

• Total income up 36.7% at Rs 1,707 crore versus Rs 1,249 crore.

Varun Beverages Ltd.'s profit rose in the third quarter of calendar year 2024, beating analysts' estimates.

The company's net profit rose 22% year-on-year to Rs 628.8 crore in the July–September period. This compares with a Rs 557 crore consensus estimate of analysts tracked by Bloomberg.

Varun Beverages Q3 CY24 Highlights (Consolidated, YoY)

• Revenue up 25.2% at Rs 4,804.6 crore versus Rs 3870.5 crore.

• Ebitda up 30.49% at Rs 1,151.1 crore versus Rs 882.1 crore.

• Margin up 116 basis points at 23.95% versus 22.79%.

• Net profit up 22.32% at Rs 628.8 crore versus Rs 514 crore

Bajaj Finance Ltd., Indus Towers Ltd., Adani Energy Solutions Ltd. and Varun Beverages Ltd. will be in focus on Tuesday as they announce their earnings for the September quarter of the current financial year.

Bajaj Finance, a non-banking financial company, is likely to report a net profit of Rs 4,118 crore for the quarter ended September, according to Bloomberg estimates.

Indus Towers is likely to clock a bottom line of Rs 1,749 crore and is expected to report earnings before interest, taxes, depreciation and amortisation margin at 55.5%, according to Bloomberg estimates. Its revenue from operations is expected to be Rs 7,587 crore, while its Ebitda is estimated as Rs 4,214.30 crore.

Adani Energy Solutions, an Adani Group company, is estimated to report a profit of Rs 888 crore and a revenue of Rs 4,957 crore. It is estimated to report an Ebitda of Rs 2,160 crore and an Ebitda margin at 43.60%.

Varun Beverages Ltd., which follows the calendar year, is expected to post a net profit of Rs 557 crore during its third quarter. Analysts expect its top line to be Rs 4,711 crore, Ebitda to be Rs 1,053 crore and Ebitda margin to be 22.4%.

Persistent Systems, a Pune-based technology services company, is likely to clock a revenue of Rs 2,866 crore and a net profit of Rs 316 crore. The company is also expected to report earnings before interest and taxes of Rs 392 crore and EBIT margin at 13.7%.

Paytm's stock fell by 5% on Tuesday following the company's quarterly earnings report, despite posting a net profit of Rs 930 crore for Q2.

Analysts had anticipated a loss of Rs 631 crore, but the profit was largely attributed to a one-time gain, making it not directly comparable to previous earnings. The one time gain came from the company's sale of its events and movies ticketing business to Zomato Ltd.

The company's revenue grew by 10.5% year-on-year to Rs 1,660 crore, slightly above Bloomberg's estimate of Rs 1,644 crore. Paytm's Ebitda loss narrowed to Rs 403 crore from Rs 792 crore in the previous quarter.

In the June quarter, the fintech reported a widening net loss of Rs 838 crore compared to Rs 357 crore in the same period last year.

This ongoing trend of increased losses, even with a reported profit, has put pressure on the stock. Paytm also announced that it would provide default loss guarantee toward its merchant lending business. To this effect, the company has provided Rs 255 crore to non-bank lending partner SMFG India Credit.

One 97 Communications Q2 Highlights (Consolidated, QoQ)

• Revenue up 10.5% at Rs 1,660 crore vs Rs 1,502 crore

• Net profit of Rs 930 crore versus net loss of Rs 840 crore

• Ebitda loss of Rs 403 crore versus Ebitda loss of Rs 792 crore

• An exceptional item of Rs 2,048 crore for the sale of its events business aided the bottom line

Bajaj Finance Ltd., Indus Towers Ltd., Adani Energy Solutions Ltd. and Varun Beverages Ltd. will be among the 70 companies in focus as they announce their earnings for the September quarter of the current financial year.

Investors closely watched Paytm parent One97 Communications for a turnaround after the company reported massive losses in the June quarter. In the first quarter of the current fiscal, the fintech company's net loss widened to Rs 840 crore as against a loss of Rs 357 crore in the year-ago quarter.

The company's revenue from operations during Q1 dropped 36% YoY to Rs 1,502 crore from Rs 2,342 crore a year ago.

Zomato Ltd., Aditya Birla Real Estate Ltd., Amber Enterprises India Ltd., ICICI Prudential Life Insurance Co., IIFL Securities Ltd., Indus Towers Ltd., ICICI Securities Ltd., will be among the other big names to watch out for on Tuesday.