Q2 Results Updates: RIL Revenue Flat At Rs 2.31 Lakh Crore; Reliance Jio Net Profit Up 14%

• Net Debt as of Sept. 30 rose 0.13% quarter-on-quarter to Rs 116,438 crore versus Rs 1,16,281 crore.

• Cash and Cash equivalent was up 5.55% quarter-on-quarter to Rs 2,19,899 crore versus Rs 2,08,341 crore.

• Oil & Gas segment revenue fell 6% YoY to Rs 6,222 crore on lower price realisation.

• The earnings were partly offset by increase in gas and condensate volumes in KGD6 and CBM field.

• Segment Ebitda rose 11% year-on-year to Rs 5,290 crore.

• Ebitda margin rose 1,300 bps to 85% vs 72% year-on-year.

Source: Conference Call

The registered customer base grew to 327 million, Reliance Industries said in an exchange filing. The total transactions recorded were at 343 million, up 8.9% year-on-year.

Reliance Retail opened 464 new stores. Total store count stood at 18,946 at end September with area under operation at 79.4 million sq. ft. The quarter recorded footfalls of over 297 million, a growth of 14.2% year-on-year.

• Revenue fell 3.5% year-on-year to Rs 66,502 crore.

• Net Profit up 1.3% year-on-year to Rs 2,836 crore.

• Ebitda up 1% year-on-year to Rs 5,675 crore.

• Margin at 8.8% versus 8.5%.

• Revenues Up 5.1% year-on-year at Rs 155,580 crore.

• Exports down 15.7% year-on-year to Rs 70,631 crore.

• Ebitda down 23.7% to Rs 12,413 crore.

• Margin down 300 bps at 8% vs 11%.

• Revenue up 7.0% to Rs 28,338 crore versus Rs 26,478 crore.

• Net Profit up 14% to Rs 6,231 crore versus Rs 5,445 crore.

• Ebitda up 8% to Rs 15,036 crore versus Rs 13,920 crore.

• Margin at 53.1% versus 52.6%.

• Revenue down 0.3% to Rs 2.31 lakh crore versus Rs 2.31 lakh crore.

• Ebitda up 0.8% to Rs 39,058 crore versus Rs 38,765 crore.

• Ebitda margin at 16.9% vs 16.7%.

• Net profit up 11% to Rs 19,323 crore versus Rs 17,445 crore.

"Services business growth grew despite headwind from divestment of State Street BPO," said C Vijayakumar, CEO & MD, HCLTech at the Press Conference. He further added that Retail CPG, Life sciences, and healthcare were the top performing verticals on sequential basis.

"We have seen strong wins with most of our deals incorporating AI capabilities," Vijayakumar added.

Clients have started to see benefits in Gen AI, said Vijayakumar.

• Total income up 44.6% to Rs 1,514.71 crore versus Rs 1,047.87 crore.

• Net Profit up 39% to Rs 423.38 crore versus Rs 304.47 crore.

The employee count stood at 218,621, a decrease of 780 from the last quarter, with the company hiring 2,932 freshers.

Source: Press Release

HCL Technologies announced an interim dividend of Rs 12 per equity share of Rs 2 each of the company. The record date for the interim dividend is set for Oct. 22.

• Company's USD revenue at $3.44 billion, up 2.4% quarter-on-quarter.

• New deal wins stood at $2.22billion versus $1.96 billion in the previous quarter.

• Last 12 months attrition at 12.9% versus 12.8% quarter-on-quarter.

• The EBIT margin guidance for the financial year 2025 is at 18-19%.

• The revenue growth guidance in CC terms for financial year 2025 stood at 3.5-5% year-on-year.

• The services revenue growth guidance for this fiscal in CC terms stood at 3.5-5% year-on-year.

Source: Press Release

HCL Technologies Ltd. reported a 1% fall in net profit at Rs 4,237 crore in the second quarter of the current financial year against Rs 4,795 crore in the previous quarter.

Revenue rose 2.9% year-on-year to Rs 4,237 crore in the July-September quarter.

The operating income, or earnings before interest, taxes, depreciation, and amortisation of the company grew 12% and stood at Rs 5,362 crore against Rs 4,795 crore reported in the previous quarter. The margin expanded at 18.6% against 17.1% in the previous quarter.

Sunteck Realty's pre-sales in the second quarter rose 32.7% year-on-year at Rs 524 crore. In the first half of this fiscal, pre-sales rose 31.2% year-on-year to Rs 1,026 crore. Collections in the quarter ended September stood at Rs 267 crore, while for the first half of financial year 2025 it rose 21.3% at Rs 609 crore.

Gopal Snacks Ltd. reported a 6% jump in net profit at Rs 28.89 crore in the second quarter of the current financial year against Rs 27.21 crore in the same period last year.

Revenue rose 12.6% year-on-year to Rs 402.64 crore in the July-September quarter.

The operating income, or earnings before interest, taxes, depreciation, and amortisation of the company grew 3% and stood at Rs 46.78 crore against Rs 45.53 crore reported in the same period last year. The margin contracted at 11.6% against 12.7% for the same quarter last year.

The shares of Angel One rose as much as 4.69% during the day to Rs 2,830 apiece on the NSE. The stock closed 0.74% higher at Rs 2,723.05 per share. This compares with a 0.66% advance in the benchmark Nifty 50. It has risen 32.22% in the last 12 months and fallen 24.01% year-to-date.

The shares of HCL Tech rose as much as 1.41% during the day to Rs 1,865.50 apiece on the NSE. The stock closed 0.88% higher at Rs 1,855.90 per share. This compares with a 0.66% advance in the benchmark Nifty 50. It has risen 46.06% in the last 12 months and 25.08% year-to-date.

The shares of Reliance Industries rose as much as 0.58% during the day to Rs 2,760.15 apiece on the NSE. The stock closed 0.03% higher at Rs 2,745.05 per share. This compares with a 0.66% advance in the benchmark Nifty 50. It has risen 17.11% in the last 12 months and 5.98% year-to-date.

Reliance Industries is expected to report a year-on-year decline in its September quarter earnings, as global fuel supply remains high, according to Morgan Stanley.

The leading brokerage firm has also trimmed the company's earnings per share estimates of the current and the next fiscal by 12% and 7%, respectively. However, it has maintained 'overweight' rating on the stock.

Sequentially, Morgan Stanley expects earnings and Ebitda to grow 3%.

"RIL is rationalising its retail floor space and segment Ebitda should be flattish YoY, chemical margins are sluggish," Morgan Stanley said. "Telecom remains the bright spot as tariff hikes are reflected in earnings and Ebitda grows despite subscriber churn."

Read more here.

Reliance Industries' net profit declined in the quarter ended June and the oil-to-telecom conglomerate's margin contracted by 120 basis points.

Net profit of the Mukesh Ambani-led conglomerate dropped 17.9% sequentially to Rs 17,445 crore for the April-June period, compared with the Bloomberg estimate of Rs 17,654.9 crore.

The company's net debt fell 11.27% over a year ago to Rs 1,12,341 crore. Net debt-to-Ebitda was 0.66 times higher than 0.76 a year ago. In the previous quarter, net debt was Rs 1,16,281 crore and net debt-to-Ebitda stood at 0.62 times.

Cash and cash equivalents rose to Rs 1,92,596 crore from Rs 1,92,064 crore in the year-ago period. In the previous quarter, the metric was Rs 2,08,341 crore.

Read more here.

Sterling and Wilson Renewable Energy Ltd. reported a net profit in the second quarter of fiscal 2025. The company posted a net profit of Rs 8.5 crore in the quarter that ended September against a loss of Rs 54.5 crore in the same period last year.

Revenue rose 36% year-on-year to Rs 1,030 crore in the July-September quarter.

Operating income, or earnings before interest, taxes, depreciation, and amortisation, rose to Rs 17.8 crore from Rs 0.8 crore in the same period last year. The Ebitda margin expanded to 1.7% from 0.1% in the previous year.

Alok Industries Ltd. reported a net loss of Rs 262 crore in the second quarter of the current financial year against a loss of Rs 175 crore in the same period last year.

Revenue fell 35.4% year-on-year to Rs 886 crore in the July-September quarter.

The company reported a loss of Rs 45 crore in operating income, or earnings before interest, taxes, depreciation, and amortisation against a profit of Rs 36 crore.

India's benchmark equity indices extended gains through midday on Monday, awaiting second-quarter results from Reliance Industries Ltd. and HCL Technologies Ltd. later in the day.

At 12:14 p.m., the Nifty traded 0.74%, or 185.30 points, higher at 25,149.55, and the Sensex gained 0.81%, or 657.81 points, to trade at 82,039.17.

Shares of HCLTech rose as much as 0.8% to hit a record high of Rs 1,854 apiece, while those of Reliance Industries traded little change after erasing morning gains anticipating second quarter results.

Nifty is trading in a small range with its support at 24,900 and resistance at 25,150, according to Soni Patnaik, equity derivatives analyst at JM Financial.

"A breach on either side can help determine further trend," she said while noting that true short covering will happen only above 25,300 where there are a lot of call writers.

She said that it is also imperative to understand that FIIs have reduced long positions and are increasing net shorts; therefore, the possibility of any rise towards resistance may see a selloff until the 25,300 level is not getting crossed.

Shares of Infosys Ltd., HDFC Bank Ltd., ICICI Bank Ltd., Larsen & Toubro Ltd., and Bharti Airtel Ltd. contributed the most to the gains in Nifty. While those of Nestle India Ltd., Maruti Suzuki Ltd., Bajaj Finance Ltd., Axis Bank Ltd., and Tata Steel Ltd. weighed on the index.

Most sectoral indices were trading higher led by Nifty Realty and Nifty Bank.

Market breadth was skewed in favour of the buyers. As many as 2,081 stocks rose, 1,811 fell, and 164 remained unchanged on the BSE.

Broader indices underperformed, with BSE Midcap trading 0.1% lower and BSE Smallcap trading flat during midday trade on Monday.

Five out of the 20 sectoral indices on the BSE declined while 15 rose. BSE Realty rose the most.

Analysts expect Jio to post a strong and steady quarter, on the back of the tariff hikes announced by the company.

Nuvama expects Jio's Ebitda to rise 12% and 6% on an annual and sequential basis, respectively. Growth will be driven by higher average revenue per user, which the brokerage expects will grow 5%. The growth in ARPU is set to offset the 1% quarter-on-quarter moderation in subscriber base, Nuvama forecasts.

Prabhudas Lilladher has a similar view, expecting a 7% sequential uptick in ARPU and a muted rise in subscriber growth at 0.6%.

The retail segment's profitability should be resilient in the second quarter, according to Prabhudas Lilladher.

Nuvama expects the retail business' Ebitda to grow 7% year-on-year due to the 10% rise in retail area over the same period. Motilal Oswal expects the retail business to grow 10% year-on-year to Rs 5,400 crore.

The company's oil to chemicals segment could see a weak quarter due to the negative trajectory of benchmark Singapore gross refining margins, which fell 62% year-on-year in the quarter ended Sept. 30, 2024. Prabhudas Lilladher Pvt. projects the company's refining throughput at 17 million tonnes per annum.

Both Motilal Oswal and Nuvama expect RIL's O2C Ebitda to fall 26-27% year-on-year to around Rs 14,100 crore.

As per Nuvama, the company's oil and gas Ebitda may rise 4% year-on-year, due to the expected 3% annual production uptick.

It is key to note the O2C and upstream oil and gas segments contributed 53% to Reliance Industries' consolidated Ebitda in fiscal 2024.

According to Motilal Oswal, some of the key monitorables will be:

• Further clarity on the Rs 75,000 crore announcements in the new energy business.

• Growth in retail store additions.

• Any pricing action in the Indian telecom industry.

Shares of Reliance Industries Ltd. swung between gains and losses as India's top company by market capitalisation gears up to report its second-quarter earnings.

The Ambani-led conglomerate is likely to report a net profit of Rs 18,813.9 crore and a revenue of Rs 2.35 lakh crore for the quarter ended Sept. 30, 2024, according to Bloomberg estimates.

The oil-to-telecom conglomerate had on Oct. 7 informed the exchanges that its board is scheduled to meet on Oct. 14 to consider and approve the company's financial results.

RIL's stock rose as much as 0.58% during the day to Rs 2,760.1 apiece on the NSE. It was trading 0.14% higher at Rs 2,748 apiece, compared to a 0.72% advance in the benchmark Nifty 50 as of 12:21 p.m.

It has risen 17.2% during the last 12 months and has risen by 6.3% on a year-to-date basis. The relative strength index was at 32.

Twenty-six out of the 36 analysts tracking the company have a 'buy' rating on the stock, seven suggest a 'hold' and three have a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 19.7%.

Reliance Industries Ltd.'s consolidated Ebitda is expected to fall sequentially in the second quarter of financial year 2025, as per brokerages.

The segment that is estimated to drag down the company's financials this quarter is its standalone business that engages in the oil to chemicals, and oil and gas business. The company's other major segments—retail and Jio are projected to see healthy growth.

Reliance Industries' consolidated revenues are expected to be muted, with a 2.2% quarter-on-quarter growth, according to consensus estimates of analysts tracked by Bloomberg as of Oct. 11.

The company's Ebitda is expected to fall 5.4% sequentially. While, margins are estimated to contract to 17.1% in the second quarter, compared to 18.4% last quarter.

Profits, on the other hand, are expected to see an over 20% uptick, as per Bloomberg.

Read the complete preview here.

Reliance Industries Ltd., HCL Technologies Ltd. and Angel One Ltd. are among the top names that will announce their second quarter results on Monday.

Analyst estimates show that Reliance Industries is likely to report a net profit of Rs 18,813.9 crore and a revenue of Rs 2.35 lakh crore for the quarter ended Sept. 30, 2024.

HCL Technologies Ltd. is likely to clock Rs 4,061.6 crore in profit and Rs 28,637.2 crore in revenue, according to Bloomberg estimates.

Online brokerage firm Angel One Ltd. is estimated to report a profit of Rs 406.6 crore and a revenue of Rs 1,208.5 crore.

Reliance Industries Ltd. is among some 14 companies, including HCL Technologies Ltd. and Gopal Snacks Ltd., scheduled to report their earnings for the second quarter on Monday.

The oil-to-telecom conglomerate had on Oct. 7 informed the exchanges that its board is scheduled to meet on Oct. 14 to consider and approve the company's financial results.

In addition to the companies mentioned above, the other firms that will be releasing their earnings on Monday include Angel One Ltd., Ceenik Exports India Ltd., Dr Lalchandani Labs Ltd., International Travel House Ltd., and J Taparia Projects Ltd.

Companies like Oriental Hotels Ltd., Premier Polyfilm Ltd., Rajoo Engineers Ltd., Rita Finance And Leasing Ltd. and Sterling and Wilson Renewable Energy Ltd., will also report their earnings on Monday.