Auto sector in Q2 sees better profitability led by raw material savings and cost efficiency, 2HFY24 to be better
Margin tailwinds contributed to a positive end to 2QFY24 corporate earnings, driven by domestic cyclical sectors like cement, automobiles, banking, financial services, and insurance (BFSI). Auto industry saw YoY growth of 112%, led by M&M, Maruti Suzuki, and Tata Motors.
The domestic brokerage Motilal Oswal Financial Services reported in its Q2 results review report that margin tailwinds contributed to a broad outperformance across aggregates that marked the end of the 2QFY24 corporate earnings on a positive note. The beat was driven by domestic cyclical like cement, automobiles, banking, financial services, and insurance (BFSI).