Q2 Results Live: Orient Green Net Profit Flat, But Margin Expands; Tata Power, GRSE, Hind Copper In Focus

Orient Green Power (Q2, YoY)

• Net profit at Rs 80.6 crore versus Rs 80.4 crore.
• Revenue up 9% to Rs 143 crore versus Rs 131 crore.
• Ebitda up 13% to Rs 113 crore versus Rs 100 crore.
• Margin at 79% versus 76.2%.

Tata Power's transmission and distribution business is expected to post modest growth, aided by improving operational performance across Odisha and Delhi distribution circles. EBITDA from the segment is estimated to rise 1% year-on-year, supported by lower aggregate technical and commercial losses in Odisha.

The company's newly commissioned solar cell and module manufacturing facilities are likely to contribute meaningfully to earnings during the quarter. Analysts expect module production of around 1 GW and cell production of approximately 0.9 GW in Q2.

Solar manufacturing EBITDA margin is estimated at 22%, lower than 26% in the year-ago period, though the segment is still expected to remain a significant contributor to profitability.

At the consolidated level, Tata Power is expected to report a 21% increase in both revenue and EBITDA, with net profit likely to rise 28% year-on-year. Growth is expected to be led by the standalone business, thermal operations, renewable energy assets and the solar manufacturing division.

The company's diversified portfolio spanning conventional power generation, renewable energy, power distribution and solar manufacturing is likely to help offset pressure from the transition away from third-party solar EPC projects, supporting overall earnings growth during the quarter.

The company's thermal and hydro power businesses are expected to be key growth drivers. The Mundra plant continued to operate under the supplementary power purchase agreement during the quarter, while Section 11 support for untied capacity remained in place. As a result, EBITDA from the thermal and hydro segment is expected to surge 104% year-on-year.

Tata Power Co. Ltd. is expected to report a strong set of September-quarter earnings, driven by robust performance in its thermal power business, renewable energy portfolio and solar manufacturing operations.

Revenue is estimated to rise 21% year-on-year to Rs 18,806 crore from Rs 15,543 crore, while EBITDA is seen increasing 21% to Rs 3,983 crore from Rs 3,302 crore. EBITDA margin is likely to remain largely stable at 21.2%, compared with 21% a year ago.

Net profit is expected to grow 28% to Rs 1,173 crore from Rs 919 crore in the corresponding quarter last year.

Titagarh Rail Systems (Q2, Consolidated YoY)

• Net profit up 49.2% to Rs 63.2 crore versus Rs 42.3 crore.
• Revenue down 0.8% to Rs 793 crore versus Rs 799 crore.
• Ebitda up 27.9% to Rs 107 crore versus Rs 83.6 crore.
• Margin at 13.5% versus 10.5%.

Rentomojo (Q2, Consolidated YoY)

• Net profit down 62.6% to Rs 18.2 crore versus Rs 48.6 crore.
• Revenue up 52.8% to Rs 142 crore versus Rs 93 crore.
• Ebitda up 51.9% to Rs 57.2 crore versus Rs 37.6 crore.
• Margin at 40.2% versus 40.4%.

Rise and Shine corporate cutlets! The festive season might be getting over, but the earnings season still has some steam left. Stay tuned to catch all the live updates related to Q2 results today.