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Business News/ Companies / Company Results/  Q2 results today: Bajaj Finance, Tata Elxsi, L&T Technology, others to announce earnings
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Q2 results today: Bajaj Finance, Tata Elxsi, L&T Technology, others to announce earnings

Q2 Results today: 31 companies, including Bajaj Finance, Tata Elxsi, and L&T Technology Services, to release Q2FY24 results.

Bajaj Finance Limited, Benares Hotels Ltd, Can Fin Homes Ltd, Cie Automotive India Ltd, Cosyn Ltd, Duncan Engineering Ltd,Eimco Elecon (India) Ltd, Happiest Minds Technologies Ltd among 31 companies to announce their Q2 earnings results today.Premium
Bajaj Finance Limited, Benares Hotels Ltd, Can Fin Homes Ltd, Cie Automotive India Ltd, Cosyn Ltd, Duncan Engineering Ltd,Eimco Elecon (India) Ltd, Happiest Minds Technologies Ltd among 31 companies to announce their Q2 earnings results today.

Q2 Results today: Three of the leading Indian information technology (IT) companies, Tata Consultancy Services Ltd (TCS), Infosys, and HCL Technologies Ltd, started reported their second quarter earnings for the fiscal year 2024 last week. The IT sector's performance to date has been subdued and mostly in consistent with street estimates. As we proceed to the second week of Q2FY23 earnings season, banks have started to report their Q2 numbers.

Approximately thirty-one companies will release their September quarter results today. Investors are focused on giants like Bajaj Finance, Tata Elxsi, and L&T Technology Services among the 31.

Here's the list of companies those will report their Q2FY24 numbers today - Artemis Electricals And Projects Ltd, Atharv Enterprises Ltd, Bajaj Finance Limited, Benares Hotels Ltd, Can Fin Homes Ltd, Cie Automotive India Ltd, Cosyn Ltd, Duncan Engineering Ltd,Eimco Elecon (India) Ltd, Happiest Minds Technologies Ltd, Hathway Bhawani Cabletel & Datacom Ltd, Himadri Speciality Chemical Ltd, Huhtamaki India Ltd, ICICI Prudential Life Insurance Company Ltd, IIFL Securities Ltd,JK Agri Genetics Ltd, Lotus Chocolate Co.Ltd, L&T Technology Services Ltd, Newgen Software Technologies Ltd, PCBL Ltd, Syngene International Ltd, Tata Elxsi Ltd, Tata Metaliks Ltd, Tci Express Ltd, Techindia Nirman Limited Tiger Logistics (India) Ltd, Trimurthi Ltd, Vijay Textiles Ltd, Vikas Lifecare Ltd Vst Industries Ltd, and Zensar Technologies Ltd.

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Bajaj Finance 

Based on the average estimate of five brokerages, Bajaj Finance is expected to see a 30% year-over-year increase in net profit to 3,626 crore in the July-September quarter, driven by steady asset quality and greater loan growth, as per moneycontrol's news report. 

Bajaj Finance Ltd reported a consolidated net profit of 3,437 crore in the first quarter of FY24, registering a growth of 32% from 2,596.3 crore in the corresponding quarter of last year.

Also Read: Bajaj Finance Q2 Results LIVE Updates: Net profit may grow 34% to 3,725 crore; NII seen up 29% YoY

Net interest income (NII) of the non-banking finance company (NBFC), on a consolidated basis, in Q1FY24 increased by 26% to 8,398 crore from 6,640 crore, YoY.

Bajaj Finance’s assets under management (AUM) grew by 32% to 270,097 crore as of June 30, 2023, from 204,018 crore as of June 30, 2022.

Also Read: Bajaj Finance Q1 results: Net profit rises 32% YoY to 3,437 crore; asset quality improves

L&T Technology Services

Based on estimates, L&T Technology Services Ltd. is anticipated to record revenue of 2,387.6 crore and a net profit of 312 crore for the second quarter, as per bqprime news report.

L&T Technology Services posted a consolidated net profit of 311.1 crore for the quarter ended June. The net profit of the company jumped 13% from 275 crore during the same quarter in fiscal year 2022-23. The revenue of the company witnessed a 15% jump to 2,301 crore in Q1FY24 from 2,006 crore during Q1FY23.

In sequential terms, the net profit of L&T Technology Services declined by 8.5% quarter on quarter and the revenues declined by 2.9% quarter on quarter. The tech major has clocked an EBIT of 395.4 crore for the quarter with an EBIT margin of 17.2%.

Also Read: L&T Tech Q1 Results: Net profit jumps 13% to 311 crore; revenue rises 15%

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.

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Published: 17 Oct 2023, 08:50 AM IST
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