Q2 Results today: Bajaj Auto, Wipro, IndusInd Bank, among 32 firms to post earnings

Q2 Results today: The quarterly earnings season is in full swing and today 32 companies will be reporting its earnings. The most prominent ones being Bajaj Auto, Bandhan Bank, ICICI General Insurance, IndusInd Bank, Wipro and UTI AMC.

Here's the list of some of the companies that will report their Q2FY24 numbers today - 5paisa, Astral, Alpha Ind, Bajaj Auto, Bandhan Bank, DPL, Gujarat Cotex, Heritage Food, Himachal Fibres, ICICI General Insurance, IIFL, IndusInd Bank, LTI Mindtree, OFSS, Persistent, Polycab, ShoppersStop, Titagarh, UTI AMC, Wipro, Tips Ind.

Bajaj Auto Q2 Results

For Bajaj Auto, net profit in Q2FY24 is expected to rise 13.6% to ₹1,738 crore from ₹1,530 crore in the same quarter last year, as per average estimates of analysts.

The company’s total sales volume during the quarter declined 8.4% YoY to 10,53,953 units. Two-wheeler sales fell 13.5% to 8,81,583 units, while commercial vehicle (CV) sales jumped 30.6% YoY to 1,72,370 units in the September quarter.

The auto major’s revenue for the quarter is expected to grow by 5.33% to ₹10,747 crore from ₹10,202.8 crore in the corresponding quarter of last fiscal.

Analysts expect earnings before interest, tax, depreciation and amortization (EBITDA), or operating profit, of Bajaj Auto to increase by 19.5% to ₹2,102 crore from ₹1,758.8 crore in the year-ago quarter led by price hikes and lower input costs.

EBITDA margin is likely to expand by 220 basis points (bps) to 19.4% from 17.2%, YoY.

IndusInd Bank Q2 results

IndusInd Bank is likely to announce healthy Q2FY24 earnings with stable margin and asset quality and a healthy year-on-year (YoY) growth in revenue and profit after tax (PAT) numbers.

BOB Capital Markets (BOBCAPS) expects IndusInd Bank's PAT to grow 23.5 per cent YoY and 5 per cent QoQ despite a higher base.

BOBCAPS expects strong loan growth of 21 per cent YoY driven by both retail and wholesale segments. It said the net interest margin (NIM) forecast of IndusInd Bank may increase 6bps sequentially due to a rise in the share of high-yielding assets, specifically the vehicle and MFI portfolios.

PPOP (pre-provision operating profit) is likely to rise 5 per cent QoQ due to strong business growth. Credit cost is expected to remain elevated. Asset quality set to remain stable QoQ with PCR (provisioning coverage ratio) at 71 per cent, BOBCAPS said.

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Wipro Q2 results

Wipro's Q2FY24 earnings may come out on a softer note thanks to the prevailing adverse macroeconomic conditions in key markets.

Sharekhan believes Wipro may report a sequential decline of 0.4 per cent in revenue in CC terms, in line with Q2 guidance of -2 per cent to 1 per cent. EBIT margin is expected to stay flat, aided by operational efficiencies.

Operating profit margin may see a 134 bps YoY rise while net profit is expected to rise 11.4 per cent YoY.

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