Q2 results today: Paytm, JSW Steel to L&T Finance — 38 companies to announce earning today | Mint
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Business News/ Companies / Company Results/  Q2 results today: Paytm, JSW Steel to L&T Finance — 38 companies to announce earning today
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Q2 results today: Paytm, JSW Steel to L&T Finance — 38 companies to announce earning today

Q2 results today: 38 companies going to declare its second quarter results for the current fiscal includes JSW Steel, JSW Energy, Paytm, Hindustan Zinc, Central Bank of India, L&T Finance Holdings, Poonawalla Fincorp, etc

Q2 results 2023: In Q1FY24, Paytm reported a consolidated net loss of ₹357 crore, sharply narrowed compared to a loss of ₹6,444 crore in the corresponding period last year.Premium
Q2 results 2023: In Q1FY24, Paytm reported a consolidated net loss of 357 crore, sharply narrowed compared to a loss of 6,444 crore in the corresponding period last year.

Q2 results today: 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. Hence, market observers and stock market investors are expected to remain vigilant about the Q2 results 2023 season as it would enable them to find out the fundamentals of the stocks they are mulling to add in their portfolio or they already have that stock in their portfolio.

For such market observers and stock market investors, there is a piece of stock market news today. A total of 38 Dalal Street listed companies are going to declare their Q2 earning for the financial year 2023-24. Those 38 listed companies include JSW Steel, JSW Energy, Paytm, Hindustan Zinc, Central Bank of India, L&T Finance Holdings, Poonawalla Fincorp, Laurus Labs, Tejas Networks, Atul, Sunteck Realty, Just Dial, Butterfly Gandhimathi Appliances, etc.

We are giving below Q1 scorecard of some of these 38 companies that are going to announce their Q2FY24 results on Friday.

JSW Steel Q1 results 2023

JSW Steel reported an 179% year-on-year rise in its consolidated net profit (attributable to owners of the company) for the fiscal's first quarter ended June (Q1FY24) to 2,338 crore. The company had reported a profit of 838 crore in the year-ago period. Sequentially, consolidated net profit was down 36% from 3,664 crore in Q4FY23.

Company's consolidated total revenue from operations rose 10.8% on year to 42,213 crores during the quarter ended June from 38,086 crore in Q1FY23. Total income rose to 42,544 crore in the first quarter. It stood at 38,275 crore in the year-ago period.

Paytm Q1 results 2023

Fintech giant reported a consolidated net loss of 357 crore, sharply narrowed compared to a loss of 6,444 crore in the corresponding period last year. However, Paytm's net loss had widened when compared to 168 crore reported in the preceding March quarter of fiscal 2022-23. In terms of top-line front, revenue from operations during the first quarter of current fiscal rose 39.4 per cent to 2,341 crore, compared to 1,679 crore in the year-ago period.

L&T Finance Holding Q1 results 2023

L&T Finance Holdings Ltd (LTFH) reported a 102.6% jump in consolidated net profit at 530.93 crore for the first quarter of FY24, from 262 crore a year ago, on the back of steady growth in net interest margins. Company's net interest income increased 5.76% year-on-year to 3,116.5 crore in the April-June quarter from 2,946.6 crore in the same quarter last fiscal. Its net interest margin (NIM) plus fees came at 11.71% , up 14 basis points (bps) y-o-y. Its credit cost came at 2.78% in Q1 FY24, down from 5.03% a year ago.

LTFH reported improved retail asset quality with gross stage 3 (GS3) at 3.21% and net stage (NS3) at 0.70%, with provision coverage ratio of 79% in the first quarter of FY24.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Corporate news and Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates & Live Business News.
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Published: 20 Oct 2023, 08:43 AM IST
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