After giant IT services companies, Infosys and Mindtree showcased better-than-expected yearly growth in profit on Thursday, companies like Tata Elxsi, Federal Bank, Bajaj Auto, Shree Cement to announce their Q2 earnings results on Friday. Tata Elxsi reported a 39.1% rise in its net profit in Q2. Whereas, Federal Bank reported a rise in its standalone net profit by 53% for the second quarter ended September 2022.
Bajaj EBITDA rises 24.9% YoY
Bajaj reported a 24.9% rise in EBITDA to ₹1749 crore in Q2 this year from ₹1,400 crore in the same quarter last year.
Shree Cement reports 41.8% YoY drop in EBITDA
In its Q2 earnings results, Shree Cement has reported a 41.8% YoY fall in EBITDA to ₹522.9 crore in Q2 from ₹898 crore in the same quarter last year.
Bajaj Auto profits fell 15.7% YoY
Bajaj Auto consolidated net profit fell 15.7% year-on-year in the quarter under review. Its consolidated net profit reduced to ₹1,719.4 crore from ₹2,039.9 crore during the same quarter in previous year.
Tata Elxsi net profit rose 39% YoY, fell 5.7% QoQ
Tata Elxsi reported a 39.1% rise in its net profit ₹174.28 crore in the quarter under review from ₹125.33 crore in the same quarter last year. However, the company marked 5.65% sequential fall in its net profit from ₹184.72 crore reported in previous quarter of the same financial year
Shree Cement consolidated net profit fell by 67.4% YoY
Shree Cement witnessed a major year-on-year fall in its consolidated net profit in the quarter under review. The company's consolidated net profit fell by 67.42 % to ₹183.36 crore in September 2022 from ₹562.83 crore in September 2021. Moreover, its consolidated profit dropped sequentially by 34.39% from ₹279.50 crore reported in previous quarter.
Shree Cement net sales fell 8.5% in Q2
Shree Cement witnessed 8.5% sequential fall in its consolidated net sales in the quarter under review. The company sales reduced to ₹4038.08 crore in September quarter from ₹4,414.85 crore in June quarter of the current financial year.
Bajaj Auto net sales up by 27.5%
Bajaj Auto reported a sequential growth in its net sales by 27.45% in the quarter under review. In its Q2 results, the company reported a growth in its revenue to ₹10,202.71 crore in Q1 from ₹8,004.90 crore in Q1.
Tata Elxsi net sales rose 30% in Q1
With 30.1% year-on-year rise in its net sales, Tata Elexsi showed an impressive performance in previous quarter. Along with net sales, the company also reported standalone net profit of 62.92% in first quarter of current fiscal year. The company profit increased to ₹184.72 crore in June 22 from ₹113.38 crore in June21.
Shree Cement net profit fell 56% YoY in Q1
Shree Cement ltd witnessed a significant fall in its consolidated net profit last quarter over the same period in 2021. Its net profit was reduced to ₹279.50 crore in June 22 from ₹629.90 crore in June 21.
Bajaj Auto shares trading low ahead of Q2 results
Ahead of its Q2 results announcement, Bajaj Auto Ltd shares are trading 0.92% lower at ₹3572.00 on BSE index on Friday. Its shares opened at ₹3653.10 today.
Federal Bank NII rose by 19% YoY
The private bank’s net income interest(NII) rose about 19% to ₹1,762 crore from ₹1,479.4 crore annually. Along with this, its net interest margin(NIM) improved 3.30% by 10 bps annually and 8 bps sequentially.
Federal Bank shares trading higher post Q2 earnings
Federal Bank shares are improving after the company announced its Q2 results on Friday. The company shares are trading 5.09% higher at ₹131.15 in BSE. The company shares opened at ₹127.30 today.
Federal Bank provisions and contingency rose quarterly, dipped annually
The private bank reported a 61% sequential rise in its provision and contingencies to ₹267.8 crore from ₹166 crore in last quarter. However, it was less than ₹292 crore of provision and contingencies reported in June 2021. The bank's capital adequacy ratio (%) under Basel III dropped to 13.84% from 14.57% reported in Q1 and 14.97% reported in June 2021.
Federal Bank recorded sequential dip in NPA
Federal Bank showed an impressive reduction in its non-performing assets. The private bank's net NPA fell to 0.78% from 0.94% quarter-on-quarter (QoQ). Moreover, its gross NPA dipped to 2.46% becoming the lowest in 24 quarters.
Federal Bank net profit up 53%
Federal Bank reported a rise in its standalone net profit by 53% for the second quarter ended September 2022. Its net profit increased to ₹703.7 crore vs ₹460.3 crore in the same quarter last year
Bajaj recorded 8.4% YoY revenue growth in Q1,net profit 0.58% low
Bajaj Auto Ltd registered 8.38% revenue growth in quarter that ended in June from same period last year. It recorded ₹8004.90 crore of revenue in last quarter vs ₹7,386 crore in June 2021. However, there was a 0.58% of reduction in consolidated net profit.
Shree Cement shares up 0.80%
Shree Cement shares are trading 0.80% higher at ₹21226.15. However, the company shares opened at ₹21250 on Friday.
Tata Elxsi shares trade higher ahead of Q2
IT-Software company, Tata Elxsi, made a good start by opening with a gain of 1.9% at ₹8471.30. Company shares are currently trading 2.25% higher at ₹8499.75.
Federal Bank opened with 2% gain ahead of results
Indian private sector bank, Federal Bank, showed a good start ahead of its Q2 results announcement. The private bank shares opened with a gain of 2% at ₹127.30 on Friday.
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