Q2 performance roundup: Marico, Sobha, and RBL Bank in focus

Q2 performance roundup

FMCG major Marico Limited saw its domestic volumes grow in low single digits on a year-on-year (YoY) basis in the second quarter, with low single-digit volume growth in Parachute Coconut Oil and Saffola Edible Oils, and low single-digit value growth in value-added Hair Oils. The company's international business delivered double-digit constant currency growth.

However, consolidated revenue was marginally lower YoY, dragged by pricing corrections in key domestic portfolios over the last 12 months, which will progressively come into the base going ahead. The company expects robust gross margin expansion YoY and projects a healthy operating profit margin expansion leading to low double-digit operating profit growth.

Also Read: Marico shares tank 3%, reports lower consolidated revenue; MS, Macquarie bullish

Meanwhile, RBL Bank's Q2 deposits grew 13 percent YoY, and 5 percent QoQ, to Rs 89,774 crore as their gross advances shot up 21 percent YoY, and 5 percent QoQ, to Rs 78,186 crore. CASA for the quarter increased by 12 percent YoY and 0.5 percent QoQ to Rs 32,075 crore. Retail advances grew 34 percent YoY and 8 percent sequentially, while wholesale advances grew 7 percent YoY and were flat sequentially for the quarter ended September 30, 2023.

Also Read: RBL Bank Q2 deposits grow 13% YoY to Rs 89,774 crore

Macrotech Developers reported its best quarterly pre-sales and collections in the second quarter, backed by solid demand for branded homes. Pre-sales, or sales of residential units before their construction or completion, rose 12 percent to Rs 3,534 crore in the three months ended September from a year earlier, the company said in a statement dated October 5.

In an exchange filing, Omani multinational real estate developer Sobha Limited listed out the following key operational highlights for Q2:

• The company recorded its highest-ever quarterly sales value of Rs. 17.24 billion, up 48.1 percent compared to Q2-2.
• It also recorded its highest quarterly new sales area of 1.69 mn sft, which is a growth of 26.1 percent over Q2-23.
• The company's share of sales value was Rs. 12.76 million, also the highest ever, up 32.7 percent from Q2-23.
• Average Price realisation was at Rs. 10,223 per sft, a growth of 17.4 percent compared to Q2-23.
• In the quarter, the company achieved the milestone of sales of over 1,000 homes