Page 6 - Corporate Earnings

Bajaj Finserv Q2 net profit rises 8% to Rs 2,087 cr; interest income jumps

Revenue increased by 30% to Rs 33,704 cr, says holding company of Bajaj group's financial services and insurance businesses

Godrej Properties Q2FY25 result: PAT jumps 5-fold to Rs 335.21 crore

Realty firm Godrej Properties on Wednesday reported a five-fold jump in its consolidated net profit to Rs 335.21 crore for the quarter ended September on higher income. Its net profit stood at Rs 66.80 crore in the year-ago period. Total income more than doubled to Rs 1,346.54 crore in the second quarter of this fiscal from Rs 605.11 crore in the corresponding period of the previous year, according to a regulatory filing. Pirojsha Godrej, Executive Chairperson, Godrej Properties Ltd, said the company delivered a robust second quarter with its highest-ever Q2 and H1 bookings, collections, operating cashflows, and deliveries. "With bookings growth of 56 per cent in FY23, 84 per cent in FY24 and 90 per cent in H1 FY25, Godrej Properties has reset its scale," he added. The benefit of this is visible in the company's cash flows with collections growth of 68 per cent and operating cash flow growth of 125 per cent in the September quarter, Pirojsha said. "With a robust launch pipeline,

Coforge Q2FY25 results: Net profit rises nearly 12% to Rs 202.3 crore

IT solutions company Coforge reported an 11.7 per cent year-on-year increase to Rs 202.2 crore in consolidated net profit for the quarter ended in September. It had posted a net profit (attributable to owners of the company) of Rs 181 crore in the year-ago period, according to a stock exchange filing. Revenue from operations for the quarter under review stood at Rs 3,062.3 crore, a 34.5 per cent rise from Rs 2,276.2 crore in Q2 FY24. Its profit and revenue jumped 51.8 per cent and 27.5 per cent, respectively. The Noida-headquartered firm added 5,871 staff during the quarter, including 4,430 from its acquisition of Cigniti. This brings its total employee count to 32,483. "The growth and the margin expansion at Cigniti are a preview of sustained growth and further increases in margin to follow. We have operationally fully integrated the Cigniti team and the synergies have exceeded even our expectations," said Sudhir Singh, CEO and Executive Director, Coforge. The company's board ..

Adani Green Energy Q2 results: Net profit up nearly 39% to Rs 515 crore

Adani Green Energy Solutions on Tuesday posted nearly 39 per cent rise in its consolidated net profit to Rs 515 crore in September quarter compared to a year ago mainly on the back of higher revenues. The consolidated net profit of the company stood at Rs 371 crore in the quarter ended on September 30, 2023, a BSE filing said. Total income of the company rose to Rs 3,376 crore in the quarter from Rs 2,589 crore in the same period a year ago.

Persistent Systems Q2 results: Net profit grows 23% to Rs 325 crore

IT services firm Persistent Systems has reported a 23.44 per cent increase in consolidated net profit to Rs 324.9 crore in the September 2024 quarter. The company's profit stood at Rs 263.2 crore in the year-ago period. Revenue from operations for the quarter under review was Rs 2,897.1 crore, up 20.13 per cent from Rs 2,411.6 crore in the quarter-ended September FY24. "This quarter, we continued to strengthen our capabilities and advance our AI-led, platform-driven services strategy. We brought on Starfish Associates to elevate our AI-powered contact center modernisation; the addition of Arrka expands our comprehensive offerings in digital governance, including data privacy, AI governance and cybersecurity," its CEO and Executive Director Sandeep Kalra said. During the quarter, the order booking was USD 529 million (around Rs 4,447 crore) in Total Contract Value (TCV) terms. The Pune-headquartered firm has a global headcount of more than 23,200 employees, with 19,899 staff in ...

Shoppers Stop Q2 results: Net loss at Rs 20.59 crore on sluggish demand

The department store chain saw subdued demand during the second quarter due to fewer wedding dates, extended rains and overall weak discretionary spending, its CEO Kavindra Mishra said

Bajaj Finance Q2 results: Net profit at Rs 4,041 crore, misses estimates

Consolidated numbers include the non-banking financial company's (NBFC) subsidiaries, Bajaj Housing Finance and Bajaj Financial Securities

GE Aerospace raises profit forecast on strong demand for aftermkt services

Production issues at Boeing and Airbus have led to slower delivery of newer planes, troubling the airline industry, which is seeing unprecedented demand for air travel

Adani Energy Solutions Q2 results: Net profit jumps three-fold to Rs 773 cr

Adani Energy Solutions Ltd on Tuesday posted a nearly 3-fold jump in its consolidated net profit to Rs 773.39 crore in the September quarter, mainly on the back of higher revenues. The consolidated net profit of the company stood at Rs 284.09 crore in the quarter ended on September 30, 2023, according to a regulatory filing. Its total income surged to Rs 6,359.80 crore during the period under review against Rs 3,766.46 crore in the same quarter a year ago.

Zomato Q2 results: Net profit rises to Rs 176 crore, misses estimates

The company also approved raising up to Rs 8,500 crore via the issue of shares in a qualified institutional placement

Kajaria Ceramics Q2 results: Net profit declines 22% to Rs 84.27 crore

Tiles demand has been sluggish in the world's most populous country, with strong construction activity in western, eastern, and central India countering weakness in northern and southern parts

UltraTech Cement Q2FY25 results: Net profit dips 36% to Rs 820 crore

Cement sale volume slow down, growing at three percent YoY in Q2

Balu Forge Q2 results: Net profit jumps more than two-fold to Rs 48.1 crore

Balu Forge Industries Ltd on Monday reported a more than two-fold jump in consolidated profit after tax to Rs 48.1 crore for the September quarter. The company had delivered a PAT of Rs 23.27 crore in the second quarter of the fiscal 2023-24. Its revenue in Q2 FY25 grew 60.1 per cent to Rs 222.8 crore from Rs 139.22-crore a year go, driven by constant focus on client addition and continued demand for the specialised engineering products, Balu Forge India said. The company's EBITDA (earnings before interest, taxes, depreciation and amortization) during the second quarter surged 116.5 per cent to Rs 65.22 crore from Rs 30.12 crore in the corresponding quarter of FY24, backed by increase in scale of operations and higher demand for heavier products, which tend to yield better margins, it said. "Apart from the financial achievement, the current quarter witnessed a number of developments focused on strengthening our capabilities to navigate industry challenges and capitalise on new ...

Mahindra Logistics Q2 results: Net profit declines 54% to Rs 8.5 crore

Mahindra Logistics Ltd on Monday reported 54 per cent decline in standalone Profit After Tax (PAT) at Rs 8.5 crore for September quarter FY25. The company had posted a PAT of Rs 18.6 crore in the second quarter of FY24, a statement said. Revenue during the quarter under review, however, increased 9 per cent to Rs 1,236 crore from Rs 1,136 crore in July-September FY24. Overall revenues during Q2 FY25 demonstrated a strong growth of 11.5 per cent on year-on-year basis. The company said it continues the focus on expanding capacity and making investments in the eastern and Northeastern region and also on warehouses, delivery stations and express logistics. It expects these investments to be accretive to the growth across businesses in the later part of the year. "During the quarter, we saw strong revenue performance with year-on-year growth of 11.5 per cent. Our 3PL contract logistics, cross border and last mile delivery segments registered strong growth driven by account additions,

Bajaj Housing Finance Q2 results: Profit up 21% on steady home loan demand

The company, a unit of non-bank lender Bajaj Finance , reported its first quarterly earnings since its $782 million initial public offering in September that gathered strong investor interest

Tech Mahindra Q2FY25 results: PAT up 153% to Rs 1,250 cr, revenue up 3.5%

IT services firm Tech Mahindra on Saturday reported a more than two-fold jump in its consolidated net profit to Rs 1,250 crore for the July-September quarter, driven by special income from the sale of assets. The Mahindra Group company posted a net profit of Rs 493.9 crore in the year-ago period, according to an exchange filing. Revenue rose by 3.49 per cent to Rs 13,313.2 crore in the second quarter of 2024-25 compared to Rs 12,863.9 crore in the same quarter of 2023-24. Other income includes gain on sale of property of Rs 4,502 million which comprises of freehold land and its related buildings along with the furniture & fixtures sold for a consideration of Rs 5,350 million, receivable over a period of four years along with interest of 8.2 per cent p.a, the company filing said. Sequentially, net profit rose by 46.81 per cent and revenue by 2.36 per cent. "We continue to progress on our strategic improvement efforts even as the overall IT services industry has remained soft. "We

HDFC Bank Q2 results preview: Muted qtr expected; loan-deposit ratio eyed

HDFC Bank share price: Ahead of the Q2 results, HDFC Bank share price gained 2.8 per cent during the three months to September

Axis Bank shares rally over 5% after Q2, but analysts cautious on outlook

Axis Bank share price: Brokerages have cut their earnings forecast by up to 5 per cent over FY25-27 to factor in Q2 results

Netflix picks up 5.1 million subscribers in Q3 as ad-tier signups grow

Streaming giant said that its ad-supported service accounted for more than 50 per cent of signups in the third quarter in countries where it was available

Earnings disappointment a catalyst for market correction: Analysts

The developments come at a time when the markets are already grappling with geopolitical developments in West Asia and the uncertainty surrounding the outcome of the US presidential polls