Q2 results today: HUL, ITC to Nestle India — 32 companies to declare earnings on Thursday

Q2 results 2023: Despite speculations about global slowdown, Indian companies reported strong quarterly results in January to March 2023 quarter. The performance improved further in April to June 2023 quarter after better-than-expected recovery in the Indian economy. In fact, Indian economy has managed to keep the inflation under control throughout the year, which is expected to fuel industrial and other demands in India. 

As these performances are further expected to improve after robust rise in mutual funds SIP investment by Indian millennials and improvement in global, especially US economy, stock market investors are highly vigilant about the Q2FY24 results season.

For such investors and market observers, there is a piece of stock market news. A total of 32 listed companies are going to announce their Q2 results 2023 today and those 32 listed companies include Hindustan Unilever Ltd (HUL), ITC, Nestle India, UltraTech Cement, Havells India, MphasiS, Metro Brands, Coforge, Voltas, Cyient, PVR INOX, Equitas Small Finance Bank, etc.

HUL Q2 preview

On account of price cuts and delayed festive season along with annierization of price hikes, Indian GMCG major is expected to report moderate revenue growth during July to September 2023 quarter. HUL had reported 6 per cent revenue growth in the corresponding quarter in previous financial year. However, HUL is expected tor eport improved EBIDTA and margins in Q2 results 2023.

In Q1FY24, Indian FMCG company posted a standalone net profit for the quarter ended June 30, 2023 at ₹2,472 crores - up 8 per cent from ₹2,289 crores in the year ago period. Total sales standalone have come in at ₹14,931 crores, a growth of 7 per cent during the quarter. On a consolidated basis, profit after tax rose 7 per cent to ₹2,556 crore in the first quarter ended June 30, 2023 as compared to a consolidated net profit of ₹2,391 crore in the same quarter last fiscal.

ITC Q2 preview

On account of rise in sales of cigarettes, price rise in GMCG productsand strong demand in its hospitality business, ITC is expected to report strong Q2 results for the financial year 2023-24. Company's net profit, margins and EBIDTA is expected to register strong rise on YoY basis.

In Q1 results 2023, ITC reported a rise of 17.5 per cent in standalone net profit at ₹4,902 crore, compared to ₹4,169.38 crore in the corresponding period last year. ITC’s cigarette business delivered a 13 per cent growth in revenue at ₹7,465.27 crore, while the fast-moving consumer goods (FMCG) and hotel businesses may also drove then overall growth in the quarter-under-review.

Nestle India July to September 2023 results preview

Analysts at IIFL Securities expect Nestle India to post one of the highest sales growth within the FMCG companies covered by them. Healthy growth in both volumes as well as pricing could drive 13.5 per cent growth in revenue as compared to the year-ago quarter. Though higher milk and coffee prices could have some bearing on margins of the beverage and confectionary portfolios, overall EBITDA growth is expected to remain strong for the company. Price hikes in coffee, milk and Infant nutrition segments will be a key positive.

In April to june 2023 qurter, Nestle India reported a net profit of ₹698.3 crore for the quarter ended June 2023, registering a growth of 35.6 per cent as compared to ₹515 crore in the same quarter last year. The company’s revenue in Q2CY24 grew 15.4 per cent to ₹4,658.5 crore from ₹4,036.6 crore, YoY. Domestic sales growth of the FMCG major was at 14.6 per cent.