Q2 Results 2024 Highlights: Bajaj Housing Finance net profit up 21% YoY; UltraTech net profit slips by 36%

Q2 Results 2024 Live: Bajaj Housing Finance net profit up 21% at Rs 545.6 cr

Bajaj Housing Finance has released its financial results for the second quarter (Q2), showing a robust net profit increase of 21%, reaching Rs 545.6 crore compared to Rs 451.1 crore in the same quarter last year. The company also reported a 21.1% rise in revenue, totaling Rs 2,410.2 crore, up from Rs 1,911.5 crore year-on-year.

Q2 Results 2024 Live: Mahindra Logistics reports improved financial performance for Q2

Mahindra Logistics has announced its financial results for the second quarter (Q2), revealing a net loss of Rs 9.6 crore, a significant improvement compared to a loss of Rs 15.5 crore in the same quarter last year. The company reported an 11.4% increase in revenue, reaching Rs 1,521 crore, up from Rs 1,364.8 crore year-on-year.

In addition, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) saw a notable rise of 23.7%, totaling Rs 66.3 crore compared to Rs 53.6 crore in the previous year. The EBITDA margin improved to 4.4%, up from 3.9% year-on-year.

UltraTech Q2 Results 2024 Live: Rs 400-500 crore investment planned for Kesoram efficiency improvements

UltraTech Cement's Chief Financial Officer announced an expected investment of Rs 400-500 crore over the next two years to enhance efficiency at Kesoram's cement assets. He also added that both infrastructure and rural demand are anticipated to drive growth in the second half of the fiscal year, alongside sustained demand from urban markets.

Q2 Results 2024 Live: UltraTech CFO outlines growth plans and market trends

UltraTech Cement's Chief Financial Officer announced plans to achieve a capacity of 180 million tonnes per annum (MTPA) by the second quarter of fiscal year 2027, excluding any acquisitions. Additionally, the company has received an initial list of queries from the Competition Commission regarding its acquisition of India Cements. The CFO noted a positive trend in cement prices, which have risen to Rs 354 per 50 kg bag, up from Rs 347 in August.

Q2 Results 2024 Live: Q2 Performance meets expectations, 8 MTPA capacity expansion on track, says UltraTech Cement CFO

UltraTech Cement’s Chief Financial Officer, Atul Daga, stated that the company's performance in the second quarter (Q2) has met expectations, primarily due to the impact of rains across India. The capacity utilization for the quarter stood at 68%. Daga also announced that UltraTech is set to commission an additional 8 million tonnes per annum (MTPA) capacity in the second half of fiscal year 2025 (H2 FY25). Furthermore, he revealed that the acquisition process for Kesoram Industries' cement operations is in its final stages, with the transaction expected to close in the fourth quarter (Q4).

Q2 Results 2024 Live: Gravita Q2 Results, EBITDA margin declines

Consolidated profit up from Rs 58 crore to Rs72 crore (YoY)

Consolidated Revenue Up from ₹836 Cr to ₹927 Cr (YoY)

EBITDA down from Rs 73 crore to Rs 63 crore (YoY)

EBITDA margin declined to 6.8% (YoY) from 8.7%

Q2 Results 2024 Live: UltraTech Q2 domestic sales volume up 3% YoY, EBITDA per tonne drops to Rs 732

UltraTech Cement reported a 3% year-on-year growth in domestic sales volume for Q2. However, the domestic operating EBITDA per tonne fell by Rs 224 year-on-year, coming in at Rs 732.

Q2 Results 2024 Live: UltraTech Cement Q2 net profit falls 36%, revenue declines 2% YoY

UltraTech Cement has announced its financial results for the second quarter of FY25, revealing a notable decline in key performance indicators. The company’s net profit fell by 36% year-on-year, reaching Rs 825 crore, down from Rs 1,281 crore in the same quarter last year.

Revenue also dipped by 2%, totaling Rs 15,635 crore compared to Rs 16,012 crore in Q2 FY24. Additionally, EBITDA decreased by 21% to Rs 2,019 crore, down from Rs 2,550.9 crore a year earlier.

Q2 Results 2024 Live: UltraTech Cement Q2 net profit at Rs 825 crore; revenue at Rs 15,635 crore

UltraTech Cement has reported its Q2 FY25 results with a net profit of Rs 825 crore. The company’s revenue for the quarter stood at Rs 15,635 crore, while EBITDA came in at Rs 2,019 crore.

Q2 Results 2024 Live: Bajaj Finance AUM expected to grow 30% YoY in Q2FY25

Motilal Oswal analysts project Bajaj Finance's AUM to grow 30% YoY and 7% QoQ in the September quarter. Axis Securities also forecasts a 6% sequential rise in AUM for Q2FY25.

Q2 Results 2024 Live: Solara Active Q2 EBITDA jumps 65%, margins improve to 17.6%

Solara Active Pharma Sciences reported a strong improvement in its Q2FY25 financials, with EBITDA surging 65% year-on-year to Rs 61 crore, compared to Rs 37 crore in the same quarter last year. The company's EBITDA margin also saw a notable expansion, rising to 17.6% from 8.7% in Q2FY24.

Q2 Results 2024 Live: Solara Active Pharma Sciences reports profit at Rs 8 cr

Solara Active Pharma Sciences has reported a net profit of Rs 8 crore for the second quarter of FY25, a significant improvement from a net loss of Rs 17 crore in the same period last year. However, the company's revenue saw a decline, falling 18% year-on-year to Rs 347 crore compared to Rs 425 crore in Q2FY24.

Q2 Results 2024 Live: Groww doubles FY24 revenue to Rs 3,145 crore despite one-time tax loss

Groww, the country's largest stock broking firm by active investor base, has reported more than double its revenue for FY24, reaching Rs 3,145 crore on a consolidated basis, according to a company statement.

The Bengaluru-based discount broker also saw its consolidated profit rise by 17% to Rs 535 crore for the year ending March 2024, up from Rs 458 crore the previous year. In FY23, Groww's consolidated revenue was Rs 1,435 crore.

However, the company faced a one-time domicile tax of Rs 1,340 crore, which led to a consolidated net loss of Rs 805 crore. This tax was incurred following Groww's move of its registered office from Delaware, USA, to Bengaluru during the last fiscal year, resulting in a tax obligation based on its valuation.

Q2 Results 2024 Live: Swaraj Engines reports 17.7% increase in EBITDA

Swaraj Engines has reported a 17.7% year-on-year increase in EBITDA for the second quarter, reaching Rs 62.1 crore compared to Rs 52.7 crore in the same period last year. The EBITDA margin for the quarter stood at 13.4%, slightly down from 13.6% in the previous year.

Q2 Results 2024 Live: Groww doubles FY24 revenue to Rs 3,145 crore despite one-time tax loss

Groww, the country's largest stock broking firm by active investor base, has reported more than double its revenue for FY24, reaching Rs 3,145 crore on a consolidated basis, according to a company statement.

The Bengaluru-based discount broker also saw its consolidated profit rise by 17% to Rs 535 crore for the year ending March 2024, up from Rs 458 crore the previous year. In FY23, Groww's consolidated revenue was Rs 1,435 crore.

However, the company faced a one-time domicile tax of Rs 1,340 crore, which led to a consolidated net loss of Rs 805 crore. This tax was incurred following Groww's move of its registered office from Delaware, USA, to Bengaluru during the last fiscal year, resulting in a tax obligation based on its valuation.

Q2 Results 2024 Live: Netweb Technologies shares soar 70% profit surge, hit new 52-week high

Netweb Technologies shares soared to a new 52-week high of Rs 2,949.80 on October 21, following a robust 70% rise in net profit for Q2 FY25. The stock later settled at Rs 2,787, up 3.93% by 12:14 PM. Over the past year, shares have surged 232.41%. The company debuted on the stock market on July 27, 2023, with an impressive 88% listing gain over its Rs 500 issue price. In its latest filing, Netweb reported a net profit of Rs 25.7 crore for Q2 FY25, compared to Rs 15.14 crore in the same period last year.

Q2 Results 2024 Live: Bad loan surge hits Kotak Mahindra and RBL Bank shares; slippages soar

Shares of Kotak Mahindra Bank and RBL Bank fell sharply on Monday after both lenders reported a rise in bad loans, negatively impacting their second-quarter profits and margins—a trend expected to persist for several more quarters.

Kotak's shares dropped as much as 6%, reaching a near two-month low in early trading, while RBL's stock plummeted 14%, marking its lowest point since June 2023.

Kotak reported a 38% quarter-on-quarter increase in slippages, which measure the proportion of good loans that turn bad, for the July-September period. Meanwhile, RBL's slippages nearly doubled from a year ago, totaling 10.26 billion rupees and rising almost 43% from the previous quarter.

Both banks attributed the pressure mainly to their credit card and microfinance segments, and they warned that these challenges are likely to continue for the foreseeable future.

Q2 Results 2024 Live: Tech Mahindra hits 52-week high after 47% surge in Q2 profit

Tech Mahindra shares jumped over 4%, hitting a 52-week high of Rs 1,761.85, following a robust earnings report for Q2 FY25. This performance led brokerages such as Centrum Broking and Phillip Capital to raise their target prices for the stock.

By 10:22 AM, the stock was trading 2% higher at Rs 1,725.85. Year-to-date, Tech Mahindra has gained 33%, significantly outperforming the Nifty 50, which has risen 14% during the same period.

For the quarter ending September, Tech Mahindra reported a consolidated net profit of Rs 1,250 crore, reflecting a nearly 47% increase quarter-on-quarter and surpassing Moneycontrol's estimate of Rs 1,036 crore. Revenue from operations rose by 2.4% QoQ to Rs 13,313 crore, also exceeding Moneycontrol's forecast of Rs 13,171 crore.

Q2 Results 2024 Live: RBL Bank shares fall 14% to 52-week low following 24% net profit decline

RBL Bank's share price fell over 14% on October 21 after the company reported a 24% decline in net profit for the September quarter, which dropped to Rs 223 crore due to asset quality challenges stemming from its credit card and microlending portfolios.

In the same period last year, the private sector lender had posted a post-tax net profit of Rs 294 crore, and it recorded ₹372 crore in the previous June quarter.

On October 21, RBL Bank's stock reached an intraday low of Rs 176.5 per share on the NSE, down 14.01% and hitting its 52-week low. The stock opened the trading session with a loss of 5.97%.

Q2 Results 2024 Live: What to watch for in the quarterly results

Analysts will closely monitor management commentary regarding the demand outlook during this challenging quarter, the sustainability of pricing amid escalating competition, and any consolidation trends within the sector.

Q2 Results 2024 Live: High costs and market challenges

The cement manufacturer is expected to see depreciation and interest expenses rise by approximately 7% and 5% year-on-year, respectively. This increase could lead to negative operating leverage, where high fixed costs cause profits to decline disproportionately as sales drop. Combined with lower price realizations, this situation could significantly hinder net earnings.

Q2 Results 2024 Live: What factors are impacting UltraTech's earnings?

Pricing pressures continue across various regions. Despite several attempts by cement manufacturers to increase prices during the quarter, adverse weather conditions such as monsoons, floods, and a lack of infrastructure activity forced these hikes to be rolled back, resulting in sustained pressure on cement realizations.

Additionally, volume growth in Q2 FY25 is expected to be lower due to the prolonged monsoon in many areas, further squeezing prices and affecting realizations. Price realization in cement refers to the average revenue a company earns per unit sold and serves as an indicator of profitability per ton; higher realizations typically signify improved profit margins per unit.

Q2 Results 2024 Live: What are brokerages saying?

Brokerage firm Ambit has initiated a 'Sell' rating on Bajaj Housing Finance, setting a target price of Rs 85, which suggests a potential downside of over 39% from the previous closing price of Rs 139.90 per share. This decision, as cited by The Economic Times, comes amid concerns regarding the company’s valuation and market conditions.

In its report, Ambit pointed out that the current valuation reflects an ask rate of approximately 2x the industry’s growth rate. The report said that the prime home loans segment is a mature industry, predominantly controlled by established banks. Consequently, the competitive landscape in this sector is expected to impact loan growth and return on equity (RoE).

Q2 Results 2024 Live: How did UltraTech perform in Q1? A quick look

UltraTech Cement reported lacklustre Q1 FY25 results, with its consolidated net profit remaining nearly flat year-on-year at Rs 1,695 crore, compared to Rs 1,690 crore the previous year. The earnings fell short of estimates, leading to a decline in the company's shares.

For the April-June quarter, UltraTech's consolidated revenue increased by approximately 2% year-on-year to Rs 18,069 crore.

However, cement demand was adversely affected by several factors, including general elections, labor shortages due to election-related migration, extreme heatwaves, and economic slowdowns in certain states.

According to the company’s investor presentation, grey cement sales in India decreased by 9% sequentially to 30.29 million tonnes, although they rose by 6% compared to the same quarter last year. Brokerages had anticipated that cement demand would grow in the "high single digits" for this quarter.

Q2 Results 2024 Live: Bajaj Housing Finance loan assets hit Rs 89,860 crore; stock surges 135% on listing day

At the end of the September quarter, Bajaj Housing Finance's loan assets (AR) reached nearly Rs 89,860 crore, up from Rs 70,954 crore the previous year.

Bajaj Housing Finance has emerged as one of the most successful listings of the year, debuting at a premium of over 100% compared to its IPO price of Rs 70. The stock closed its listing day with a 135% gain, reaching a high of Rs 188.5.

Q2 Results 2024 Live: Bajaj Housing Finance earnings in focus after AUM surpasses Rs 1 lakh crore

On October 3, Bajaj Housing Finance announced that its assets under management (AUM) exceeded Rs 1 lakh crore for the quarter, reaching Rs 1,02,550 crore—a 26% increase from Rs 81,215 crore in the same quarter last year.

Continuing a trend observed in the previous two quarters, the AUM grew by Rs 5,480 crore during the September quarter. The company’s loan assets reached nearly Rs 89,860 crore at the end of September, up from Rs 70,954 crore the previous year.

Q2 Results 2024 Live: Infrastructure delays and weather challenges for UltraTech

Delayed infrastructure projects following the general election, a shortage of sand, above-average monsoon rains, and flooding in various regions have negatively affected cement sales. Additionally, extreme heat and labour shortages in certain areas further contributed to the decline in demand during Q2FY25.

Q2 Results 2024 Live: Sharekhan warns of 40% YoY drop

Even Motilal Oswal's most optimistic forecast indicates that UltraTech Cement's net profit will decline both sequentially and year-over-year. Meanwhile, Sharekhan's most pessimistic estimate suggests that net profit could drop by as much as 40% year-on-year, with revenue projected to fall by 6.41%.

Q2 Results 2024 Live: UltraTech Cement revenue expected to fall 2.7% YoY

A Moneycontrol poll suggests that UltraTech Cement may see a 2.7% year-on-year decrease in revenue, totalling Rs 15,579 crore. Net profit is expected to decline by 17.06% YoY to Rs 1,062 crore, while the EBITDA margin is projected to fall by 500 basis points YoY to 15.1%.

Q2 Results 2024 Live: UltraTech expected to show weak performance?

As India's largest cement manufacturer, UltraTech Cement is anticipated to post lackluster performance in Q2FY25, both sequentially and year-on-year, primarily due to declining prices and a drop in average realizations impacting earnings.

Q2 Results 2024 Live: Union Bank of India set to announce earnings, reports 9.63% YoY growth in advances

Union Bank of India is scheduled to release its results, having earlier reported a 9.63% year-on-year rise in total advances to Rs 9.28 lakh crore for the quarter ending September 30, 2024. Total deposits also grew by 9.17% YoY to Rs 12.42 lakh crore.

Q2 Results 2024 Live: UltraTech Cement to announce Q2 results, investors eye performance

UltraTech Cement Ltd. is set to unveil its second-quarter performance, following a marginal 0.3% year-on-year net profit rise to Rs 1,695 crore in Q1. Investors are keenly awaiting the company's latest figures.

Q2 Results 2024 Live: Bajaj Housing Finance set to announce first results since listing, AUM up 26% YoY

Bajaj Housing Finance Ltd. will announce its first quarterly results since its stock market debut on September 16, 2024. As per provisional data filed on October 3, the company’s assets under management (AUM) jumped 26% year-on-year (YoY) to Rs 1.02 lakh crore for the quarter ending September 2024, with an increase of approximately Rs 5,480 crore during the period.

Q2 Results 2024 Live: The full list of 46 companies declaring their Q2 results on October 21

Aditya Forge Ltd., 360 One Wam Ltd., Authum Investment & Infrastructure Ltd., Artson Engineering Ltd., Aurionpro Solutions Ltd., Aurum Proptech Ltd., Bajaj Housing Finance Ltd., Balu Forge Industries Ltd., Bhansali Engineering Polymers Ltd., CG Power and Industrial Solutions Ltd., Consecutive Investment Trading Co., Comfort Fincap Ltd., City Union Bank Ltd., Cyient DLM Ltd., Fabino Enterprises Ltd., Futuristic Securities Ltd., Getalong Enterprise Ltd., Gold Coin Health Foods Ltd., Gravita India Ltd., HFCL Ltd., Indbank Merchant Banking Services Ltd., IEL Ltd., and Jana Small Finance Bank Ltd.

Julien Agro Infratech Ltd., Mahindra Logistics Ltd., Maharashtra Scooters Ltd., NELCO Ltd., Nikki Global Finance Ltd., PMC Fincorp Ltd., Rajratan Global Wire Ltd., Remi Edelstahl Tubulars Ltd., Route Mobile Ltd., Shiva Cement Ltd., Solara Active Pharma Sciences Ltd., Supreme Petrochem Ltd., Suraj Ltd., Surana Solar Ltd., Swaraj Engines Ltd., Tips Films Ltd., Ultratech Cement Ltd., Unick Fix-A-Form And Printers Ltd., Union Bank of India, Vinyl Chemicals India Ltd., Visagar Polytex Ltd., Wendt India Ltd., and Yogi Ltd.

Q2 Results 2024 Live: D-Street gears up for 46 companies

Dalal Street is gearing up for a busy Monday on October 21, as 46 companies from various sectors are slated to announce their quarterly results for the three months ending September 2024. Among the key players set to report are Bajaj Housing Finance Ltd., Cyient DLM Ltd., UltraTech Cement Ltd., and Union Bank of India.

Welcome to Moneycontrol’s live earnings blog!

Stay with us as we bring you in-depth coverage of Q2 results across all key sectors. Don’t miss a beat as we break down the numbers and trends that matter!