Q2 Results Live: Dr. Reddy’s Laboratories Profit Falls 9%; Titan Profit Misses Estimates

Waaree Renewable Technologies Q2 Highlights (Consolidated, YoY)

• Revenue up 249.5% to Rs 524.46 crore versus Rs 150.06 crore.

• Net profit up 161% to Rs 53.52 crore versus Rs 20.54 crore.

• Ebitda up 133% to Rs 71.56 crore versus Rs 30.67 crore.

• Margin at 13.6% versus 20.4%.

Dr. Reddy's Laboratories Europe revenue rose 9% year-on-year to Rs 5.8 billion on account of leveraging the portfolio to launch new products, partly offset by price erosion. Sequentially it rose 10% on the back of new product launches.

Europe's revenue in the first half rose 7% year-on-year to Rs 11 billion on account of new product launches and momentum in base business, partly offset by price erosion.

Source: Press Release

Dr. Reddy's Laboratories North America revenue rose 17% year-on-year to Rs 37.3 billion driven by improved sales volumes, partly offset by price erosion. Sequentially it fell 3% due to decrease in sales volume.

North America revenue in the first half rose 19% year-on-year to Rs 75.7 billion driven by increase in sales.

Source: Press Release

Dr. Reddy's Laboratories global generics revenue rose 17% year-on-year to Rs 71.6 billion driven by improved sales volumes and new product launches. Sequentially it grew 4% with growth primarily driven by Emerging Markets and Europe.

Global generics revenue in the first half rose 16% year-on-year to Rs 14.04 crore driven by increase in sales across all markets.

Source: Press Release

Titan expects the second half of this fiscal be better than the first half.

If the lab grown jewellery amount goes beyond Rs 1 lakh, customer interest drops significantly, the management said on Tuesday.

"Nothing is stopping us from entering lab grown diamond space, we have not launched it yet considering market trends - we will speak about it when its time," the management added.

Source: Earnings Concall

Titan's buyer growth in the studded jewelley is strong the management said on Tuesday.

The company further added that the ticket size in gold has remained unchanged, while the ticket size in solitaire has been affected.

The company is keeping a close track on lab grown diamonds.

Margins in financial year 2025 to be in the range of 11-11.5%

Trent is a big retailer and has a diversified business, hence it makes sense for it to enter lab grown diamond space

Non solitaire diamonds demand remains unimpacted.

Source: Earnings Concall

The board of Dr. Reddy’s Laboratories on Tuesday approved investment worth up to Rs 600 crore in Russia-based step-down arm.

Source: Exchange Filling

Titan margins have taken a hit on account of one-time custom duty loss partly in this quarter and partly in next quarter, lower studded mix and large carat solitaire diamond stone demand is affected to international demand supply pressure.

Source: Earnings Concall

JK Tyre & Industries Q2 Highlights (Consolidated, YoY)

• Revenue down 7.1% to Rs 3,621.56 crore versus Rs 3,897.53 crore.

• Net profit down 44% to Rs 139.75 crore versus Rs 248.62 crore.

• Ebitda down 28% to Rs 421.26 crore versus Rs 589.14 crore.

• Margin at 11.6% versus 15.1%.

Mankind Pharma Q2 Highlights (Consolidated, YoY)

• Revenue up 13.6% to Rs 3,076.51 crore versus Rs 2,708.10 crore.

• Net profit up 29% to Rs 658.88 crore versus Rs 511.18 crore.

• Ebitda up 25% to Rs 850.04 crore versus Rs 682.65 crore.

• Margin at 27.6% versus 25.2%.

Berger Paints Q2 Highlights (Consolidated, YoY)

• Revenue up 0.3% to Rs 2,774.61 crore versus Rs 2,767.30 crore.

• Net profit down 8% to Rs 269.90 crore versus Rs 292.13 crore.

• Ebitda down 8% to Rs 434.18 crore versus Rs 473.65 crore.

• Margin at 15.6% versus 17.1%.

• Watches and wearables revenue of Titan rises 19% at Rs 1,304 crore versus Rs 1,092 crore.

• Jewellery Revenue rises 15% to Rs 12,771 crore versus Rs 11,081 crore.

• Eyecare Revenue rises 7% to Rs 202 crore versus Rs 189 crore.

Titan Q2 Highlights (Consolidated, YoY)

• Revenue up 16.0% to Rs 14,534.00 crore versus Rs 12,529.00 crore.

• Net profit down 23% to Rs 704.00 crore versus Rs 916.00 crore.

• Ebitda down 12% to Rs 1,236.00 crore versus Rs 1,411.00 crore.

• Margin at 8.5% versus 11.3%.

Dr. Reddy’s Laboratories Q2 Highlights (Consolidated, YoY)

• Revenue up 16.5% to Rs 8,038.20 crore versus Rs 6,902.60 crore.

• Net profit down 9% to Rs 1,341.90 crore versus Rs 1,482.20 crore.

• Ebitda up 3% to Rs 2,076.50 crore versus Rs 2,008.30 crore.

• Margin at 25.8% versus 29.1%.

Datamatics Global Services Q2 Highlights (Consolidated, QoQ)

• Revenue up 3.2% to Rs 406.75 crore versus Rs 393.99 crore.

• Net profit down 4% to Rs 42.20 crore versus Rs 43.82 crore.

• Ebit down 8% to Rs 39.34 crore versus Rs 42.60 crore.

• Margin at 9.7% versus 10.8%.

Manappuram Finance Q2 Highlights (Consolidated, YoY)

• Total income rises 21.3% at Rs 2,637 crore versus Rs 2,174 crore.

• Net Profit up 2% at Rs 572 crore versus Rs 561 crore.

Shares of SJVN gained 4.88% to Rs 116.85 apiece, before paring gains to trade 2.26% higher at Rs 113.93 by 3:12 p.m. after the company reported a 16.8% increase in revenue to Rs 1,026 crore. The benchmark NSE Nifty 50 was trading 0.91% higher.

The stock has risen 55.11% in the last 12 months and 22.55% on a year-to-date basis. The total traded volume so far in the day stood at 1.4 times its 30-day average. The relative strength index was at 43.

Three out of the five analysts tracking SJVN have a 'buy' rating on the stock, while one suggests a hold and one suggests a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 14.7%.

• Revenue up 4.2% At Rs 772 crore versus Rs 741 crore.

• Ebitda down 2.8% at Rs 123 crore versus Rs 127 crore.

• Margin at 15.9% versus 17.1%.

• Net Profit down 11.4% at Rs 65.5 crore versus Rs 73.9 crore.

• Revenue up 16.8% at Rs 1,026 crore versus Rs 878 crore.

• Ebitda up 17.3% at Rs 828 crore versus Rs 706 crore.

• Margin at 80.7% versus 80.4%.

• Net profit up 0.1% at Rs 439.9 crore versus Rs 439.6 crore.

• Revenue down 1.2% at Rs 917 crore versus Rs 928 crore.

• Ebitda up 15.7% at Rs 81.2 crore versus Rs 70.2 crore.

• Margin at 8.8% versus 7.6%.

• Net profit at Rs 185 crore versus Rs 51 crore.

Shares of Mazagon Dock spiked as much as 7.23% to Rs 4318 apiece after the PSU reported a 75% uptick in net profit, beating estimates.

• Revenue up 17.8% at Rs 415 crore versus Rs 352 Cr

• Ebitda up 52.4% at Rs 73.6 crore versus Rs 48.3 crore.

• Margin at 17.7% versus 13.7%.

• Net profit up 74.5% At Rs 47.5 crore versus Rs 27.2 crore.

Mazagon Dock Shipbuilders Q2 Highlights (Consolidated, YoY)

• Revenue up 51% at Rs 2,757 crore versus Rs 1,828 crore.

• Ebitda up 189% at Rs 511 crore verus Rs 177 crore.

• Margin at 18.5% versus 9.7%.

• Net profit up 76% at Rs 585 crore versus Rs 333 crore.

KPR Mill Q2 Highlights (Consolidated, YoY)

• Revenue down 2.1% at Rs 1,480 crore versus Rs 1,511 crore.

• Ebitda down 0.5% at Rs 296 crore versus Rs 298 crore.

• Margin at 20% versus 19.7%.

• Net profit up 1.5% at Rs 205 crore versus Rs 202 crore.

• Revenue up 40.3% at Rs 242 crore versus Rs 172 crore.

• Ebitda flat at Rs 60.8 crore.

• Margin at 25.1% versus 35.3%.

• Net profit down 6.3% at Rs 44.9 crore versus Rs 47.9 crore.

Here's a market check on how the stocks posting their results are doing ahead of the announcement.

Most are trading in the red compared to a 0.49% decline in the benchmark Nifty 50 as of 12:33 p.m.

Mankind Pharma is expected to announce a net profit of Rs 600 crore, with revenue estimated at Rs 3,050 crore and an Ebitda of Rs 781 crore, reflecting a margin of 25.6%.

In the preceding quarter, Mankind Pharma had reported consolidated revenue from operations of Rs 2,893.42 crore, up 12.2% YoY. Net profit increased nearly 10% over the previous year to Rs 543.1 crore in Q1 compared to Rs 494.2 crore in the same quarter last year.

Oil India is likely to report a standalone net profit of Rs 1,933 crore and revenue of Rs 5,292 crore.

In its June quarter results, Oil India had exceeded analysts’ estimates in terms of consolidated net profit. The profit after tax, or net profit, fell 14% YoY in the first quarter to Rs 2,016.3 crore against Rs 2,332.94 crore in the June quarter of the preceding fiscal.  

Titan is expected to report a net profit of Rs 969 crore, with revenue projected at Rs 13,425 crore, as per analysts' consensus estimate compiled by Bloomberg. The company’s Ebitda is estimated at Rs 1,566 crore, resulting in an Ebitda margin of 11.7%.

In the first quarter, the company's consolidated profit-after-tax declined 5.5% year-on-year in the first quarter of financial year 2025 to Rs 715 crore versus Rs 756 crore in the year-ago period.

Titan Q1 FY25 Highlights (Consolidated, YoY)

• Total income up 11.2% to Rs 12,308 crore versus Rs 11,069 crore.

• Profit-after-tax down 5.5% to Rs 715 crore versus Rs 756 crore.

• Ebitda up 10.3% to Rs 1,367 crore versus Rs 1,239 crore.

• Ebitda margin at 11.1% versus 11.2%.

It’s shaping up to be a bustling day on the markets with 64 companies set to release their September quarter earnings results. As numbers roll in, we’ll be keeping an eye on the big players. Some of the top names in today's list are Titan Co., Oil India Ltd., Mazagon Dock Shipbuilders Ltd., SJVN Ltd., Mankind Pharma Ltd., and GAIL India Ltd. 

So far, this earnings season has been disappointing with brokerages chiming in with downgrades on the back of excessive stock valuations in a correcting market.