Page 28 - Q2 Results

Top Headlines: Run-up to Budget 2023-24, India Inc's Q2 earnings, and more

The July-September quarter (second quarter, or Q2) of 2022-23 (FY23) could mark the end of the period of an unprecedented rise in India Inc's earnings in the aftermath of the pandemic

IOC, HPCL, BPCL may post 2nd consecutive quarterly loss in July-Sept

State-owned oil marketing companies IOC, BPCL and HPCL may for the first time ever post the second consecutive quarterly loss with a combined loss of Rs 21,270 crore in July-September, on holding petrol and diesel prices below the cost of production. The three state-owned firms -- Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), had in the first quarter of the current fiscal year (April-June) posted a combined loss of Rs 18,480 crore due to erosion in the marketing margin on petrol, diesel and domestic LPG. "The three oil marketing companies IOC, BPCL and HPCL remain trapped in the quagmire of weak marketing losses and there is not enough traction in refining margins," ICICI Securities said in a sector report. The three firms are to announce second quarter earnings later this month or in early November. In the first quarter, record refining margins were wiped away by losses booked on not revising petrol and diesel

TCS, Infosys results, macro data to drive markets this week: Analysts

Trading in the domestic equity market this week will be influenced by quarterly results from TCS and Infosys, besides inflation and industrial production data as well as global trends, analysts said. Movement of the rupee, which has slumped to record lows against the US dollar, will also be tracked by investors, they added. "This week, participants will be eyeing important macroeconomic data viz IIP, CPI and WPI... Besides, the week also marks the beginning of the earnings season with IT majors like TCS, Infosys, HCL Tech and Wipro announcing their numbers along with two other heavyweights Bajaj Auto and HDFC Bank," said Ajit Mishra, VP - Research, Religare Broking Ltd. Performance of the US markets, FIIs' trend, and movement in currency and crude will also remain on their radar, Mishra added. Last week, the 30-share BSE benchmark Sensex jumped 764.37 points or 1.33 per cent. The domestic equity markets were closed on Wednesday for Dussehra. Apurva Sheth, Head of Market Perspectiv

Titan stock shines after Q2 update, addition of 105 stores in the quarter

The stock has always been highly valued with a current PE that's usually averaged around 45-50x

Coffee Day Enterprises' total default at Rs 465.66 cr in second qtr of FY23

Coffee Day Enterprises Ltd has reported a total default of Rs 465.66 crore on payments of interest and repayment of principal amount on loans from banks, financial institutions and Unlisted Debt Securities as NCDs and NCRPS, for the quarter ended September 30, 2022. Coffee Day Enterprises Ltd (CDEL) which is paring its debts through asset resolution, has a total debt of Rs 490.66 crore, including short-term and long-term debt. "The delay in debt servicing is due to liquidity crisis," said Coffee Day Enterprises Ltd (CDEL) in a regulatory update. CDEL has reported a default of Rs 215.11 crore on the payment of the principal amount on loans or revolving facilities like cash credit from banks or financial institutions as on September 30, 2022. Besides, it has also defaulted on payment of interest of Rs 5.78 crore on the above, informed CDEL. While for unlisted debt securities such as NCDs (Non-Convertible Debentures) and NCRPS (Non-Convertible Redeemable Preference Shares), the ...

TCS Q2 margin may expand sequentially; revenue seen rising up to 9% YoY

TCS Q2 preview: The company's EBIT margins are likely to improve by 40-118 basis points on a quarterly basis due to improved pricing, operating leverage, and absorption of wage hikes

Dabur India flags up to 200 bps margin hit in Q2 as inflation bites

Dabur's consolidated revenue grew 8.1% in the June-quarter, with an operating margin of 19.62%

Godrej Consumer slips 7% post September quarter business update

The company expects their EBITDA to decline in mid-teens in the September quarter of FY23, due to consumption of high-cost inventory, high marketing spends and weak Indonesia performance

General merchandise and apparel growth key for DMart's margin gains

The retailer's revenues in Q2 were lower than estimates

Hindustan Zinc mined metal production marginally up at 255,000 tonnes in Q2

Vedanta group firm Hindustan Zinc's mined metal output rose by 3 per cent to 2,55,000 tonnes in the July-September quarter on the back of better grades and improved mill recoveries. The company's mined metal production was at 2,48,000 tonnes in the corresponding quarter of previous fiscal. The refined metal production at 2,46,000 tonnes was 18 per cent higher on account of improved smelter performance and better mined metal availability among others, Hindustan Zinc has said in a statement. The wind power generation was down by 20 per cent at 124 million units (MU) for the second quarter of the current financial year due to lower wind velocity and seasonality impact. Hindustan Zinc is the country's only integrated producer of zinc, lead and silver.

Liberty Shoes hits multi-yr high on strong outlook; stock up 104% in 1-mnth

Going ahead, the company aims to grow by 30 per cent in the year 2022-23 and is confident enough to achieve the highest ever top line and Profit before tax (PBT) in the year 2022-23

Infosys could announce a buyback along with its Q2FY23 results: Jefferies

However, they have not specified the quantum of the buyback the company could announce. Infosys is scheduled to announce its Q2-FY23 numbers on October 12

Easing commodity prices, supply snags to lift auto ancillary stks: Analysts

Thus far in 2022, key raw materials used in automobile manufacturing like steel, iron ore, aluminum, nickel, and rubber have dropped in the range of 16 per cent to 45 per cent.

Denmark's economy expands faster than estimated in second quarter

Later on Wednesday, the finance ministry is due to present the government's budget proposal for 2023 as well as new economic forecasts

India beats China, takes second spot in smartwatch market in Q2: Report

China bagged the second spot in the previous quarter, but was now pushed down to the third spot with a 10% YoY decline in its shipment.

Snapchat planning to lay off employees after disappointing Q2CY22 numbers

The net loss of Snapchat widened to $422 million in Q2CY22, nearly tripling from $152 million in the same quarter in 2021

Palantir cuts revenue forecast, says govt contracts timing 'uncertain'

Palantir was co-founded by billionaire entrepreneur Peter Thiel in 2003 to help with US counter-terrorism operations, but has since diversified to commercial business

Berkshire Hathaway posts $43.8-bn Q2 loss as stock holdings tumble

Berkshire nevertheless generated nearly $9.3 billion of operating profit, as gains from reinsurance and the BNSF railroad offset fresh losses at the Geico car insurer

LG Electronics posts 12% drop in profit on weaker demand in 2nd qtr

LG Electronics said its second-quarter operating profit decreased 12 per cent (on-year) amid rampant inflation that hurt consumer demand for TVs and other home appliances

Amazon posts loss in second qtr but revenue tops estimates, stock jumps

Amazon reported its second-consecutive quarterly loss but its revenue topped Wall Street expectations, sending its stock sharply higher