Get App
Download App Scanner
Scan to Download
Advertisement
LIVE UPDATES

Q2 Results Updates: Infosys ADR Falls Over 3%, Wipro Down Over 4%

Read Time: 1 min
Share
Q2 Results Updates: Infosys ADR Falls Over 3%, Wipro Down Over 4%
Infosys’ head office in Bengaluru (Photo: Vijay Sartape/NDTV Profit)
1 year ago
Information technology majors Infosys Ltd. and Wipro Ltd. will be among the top names to watch out for as they will report their second-quarter earnings on Thursday. Axis Bank Ltd., Nestle India Ltd., Tata Communications Ltd. and LTIMindtree Ltd. are among the other big names that will announce their results for the second quarter of the current financial year.
Oct 17, 2024 19:49 (IST)
Link Copied
Share

  • Revenue up 8.2% to Rs 3,304.53 crore versus Rs 3,053.32 crore (Cons, YoY).

  • Net profit down 42% to Rs 121.45 crore versus Rs 207.72 crore (Cons, YoY).

  • Ebitda down 21% to Rs 362.28 crore versus Rs 456.12 crore (Cons, YoY).

  • Margin at 11.0% versus 14.9% (Cons, YoY).

  • Inventory writeback of Rs 56.9 crore versus Rs 3.8 crore (Cons, YoY).

Oct 17, 2024 19:45 (IST)
Link Copied
Share

Infosys has arrested margin decline and offset the headwinds, said Jayesh Sanghrajka, CFO, Infosys. He also added that the aspiration continues to increase margins in the mid-term.

Margin contribution from project maximus has delivered well he said.

Oct 17, 2024 19:36 (IST)
Link Copied
Share

Infosys is seeing slowdown in automotive in Europe, said Salil Parekh, chief executive officer at Infosys. He also noted that discretionary spend in financial services in improving since last quarter.

Further, he added retail, high tech and telco's discretionary budgets are constrained.

Further he added that Japan and Middle East are newer growth markets.

Oct 17, 2024 19:14 (IST)
Link Copied
Share

The American Depository Receipts of Wipro Ltd. was trading over 4% lower on Thursday after it reported its second quarter earnings on Thursday.

The ADR of the tech major fell as much as 4.21% to $6.150. The scrip opened at $6.345 but later fell to 4.21% lower as of 9:37 a.m. EDT.

Oct 17, 2024 19:11 (IST)
Link Copied
Share

Infosys ADRs Falls Nearly 3% After Q2 Result Announcement

Oct 17, 2024 18:15 (IST)
Link Copied
Share

RBI has had discussions over CD ratio with various banks including Axis Bank and the bank has presented its strategy, said Amitabh Chaudhry, managing director and chief executive officer at Axis Bank.

The CD ratio currently is in line with the discussions we are having with the regulator, he added.

Source: Con call

Oct 17, 2024 18:09 (IST)
Link Copied
Share

The total gross slippages for Axis Bank stood at Rs 4,443 crore, while retail slippages was at Rs 4,073 crore said Puneet Sharma, CFO Axis Bank.

Source: Con call

Oct 17, 2024 18:07 (IST)
Link Copied
Share

Margins of Axis Bank have not declined due to drop in spread said Puneet Sharma, CFO Axis Bank.

He also pointed out that the bank had received tax refund last quarter which is not there in September quarter.

Sharma also said that Axis Bank has maintained spread sequentially.

Source: Con call

Oct 17, 2024 17:47 (IST)
Link Copied
Share

Corporate salary accounts in Axis Bank rose 11% year-on-year, said Amitabh Chaudhry, managing director and chief executive officer at Axis Bank.

Chaudhry added that premiumisation of franchise continues to improve. The bank also believes that there is lot of scope for premium services in Tier 2 cities.

Source: Con call

Oct 17, 2024 17:44 (IST)
Link Copied
Share

The quality and strength of deposits of Axis Bank continue to improve, said Amitabh Chaudhry, managing director and chief executive officer at Axis Bank.

Source: Con call

Oct 17, 2024 17:42 (IST)
Link Copied
Share

"We have enough cash balances to pursue M&A," said Aparna Iyer, CFO, Wipro. The company is also actively looking to pursue if the decision fits its strategy.

Iyers also said that Wipro will be sharing revised capital allocation policy after January board meeting. This will coincide with the time the company completes strategy plan for the next two-three years.

Source: Press Conference.

Oct 17, 2024 17:29 (IST)
Link Copied
Share

  • Srini Pallia, chief executive officer at Wipro also added that discretionary spend hasn’t changed since last quarter.

  • Wipro is seeing momentum across industries in America reflecting the company's' pipeline added Pallia.

  • The pipeline in APMEA is good with Capco starting to grow APMEA and Latin America.

  • However, Pallia pointed that Europe as a market is slowing down and the impact was felt by some of accounts of the tech giant.

    • Source: Press Conference.

Oct 17, 2024 17:21 (IST)
Link Copied
Share

  • Axis Bank’s balance sheet grew 12% year-on-year and stood at 15,05,658 crores as on Sept. 30.

  • Saving account deposits grew 2% year-on-year

  • Total term deposits grew 21% year-on-year and 4% quarter-on-quarter.

    • Source: Press Release

Oct 17, 2024 16:59 (IST)
Link Copied
Share

  • Advances up 11% year-on-year to Rs 9.99 lakh crore.

  • Deposits up 14% year-on-year to Rs 10.87 lakh crore.

  • Retail loans up 15% year-on-year to Rs 5.98 lakh crore.

  • CASA deposits stood at 40% as of Sep. 30 versus 43% year ago.

  • NIM stood at 3.99% as of Sep. 30 versus 4.05% a quarter ago.

    • Source: Press Release

Oct 17, 2024 16:57 (IST)
Link Copied
Share

  • Revenue flat at Rs 3,999 crore versus Rs 3,998 crore.

  • Net profit down 46% to Rs 267 crore versus Rs 495 crore.

  • Ebitda down 25% to Rs 618 crore versus Rs 819 crore.

  • Margin at 15.5% versus 20.5%.

Oct 17, 2024 16:48 (IST)
Link Copied
Share

"We saw growth in all geographies sequentially," said Salil Parekh, CEO, Infosys.

He further added that, BFSI in US continues to see discretionary spend increase.

Parekh also said that Infosys is seeing slowness in automotive sector in Europe.

Source: Press Conference.

Oct 17, 2024 16:44 (IST)
Link Copied
Share

  • Revenue up 30.4% to Rs 5,498.42 crore versus Rs 4,217.70 crore.

  • Net profit up 4% to Rs 445.21 crore versus Rs 429.77 crore.

  • Ebitda up 4% to Rs 631.55 crore versus Rs 608.93 crore.

  • Margin at 11.5% versus 14.4%.

Oct 17, 2024 16:37 (IST)
Link Copied
Share

  • Havells expects the margins for financial year 2026 be back to earlier levels.

  • The company also noted that degowth was observed in industrial switchgear segment. The company expects double digit growth going forward.

    • Source: Con call

Oct 17, 2024 16:31 (IST)
Link Copied
Share

LTIMindtree Q2 Results: Profit Rises 10%, Meets Estimates

Oct 17, 2024 16:24 (IST)
Link Copied
Share

  • Havells cables margins were impacted due to higher raw material prices, company management said on Thursday.

  • The company expects normalisation over subsequent quarter.

  • It also added that the company will have additional capital infusion of Rs 450 crore.

    • Source: Con call

Oct 17, 2024 16:19 (IST)
Link Copied
Share

Total bookings for Wipro were at $3,561 million. Large deal bookings were at $1,489 million, with an increase of 28.8% quarter-on-quarter and 16.8% year-on-year in constant currency.

Oct 17, 2024 16:10 (IST)
Link Copied
Share

Wipro Q2 Results: Net Profit Rises 6%, Beats Estimates

Oct 17, 2024 16:06 (IST)
Link Copied
Share

Infosys Announces Interim Dividend Of Rs 21 Per Share

Oct 17, 2024 15:55 (IST)
Link Copied
Share

  • Revenue up 1.5% to Rs 22,301.60 crore versus Rs 21,963.80 crore.

  • Net profit up 6% to Rs 3,226.60 crore versus Rs 3,036.60 crore.

  • Ebitd up 1% to Rs 3,672.50 crore versus Rs 3,625.20 crore.

  • Margin at 16.5% versus 16.3%.

Oct 17, 2024 15:50 (IST)
Link Copied
Share

Axis Bank Q2 Results: Profit Beats Estimates, Asset Quality Improves

Oct 17, 2024 15:45 (IST)
Link Copied
Share

  • Revenue up 4.3% to Rs 40,986 crore versus Rs 39,315 crore.

  • Net Profit up 2% to Rs 6,516 crore versus Rs 6,374 crore.

  • Ebitd up 4% to Rs 8,649 crore versus Rs 8,288 crore.

  • Margin at 21.2% versus 21.1%.

Oct 17, 2024 15:42 (IST)
Link Copied
Share

CC Revenue growth guidance has been revised to 3.75% to 4.5% for FY25. Earlier the guidance was at 3-4%.

Oct 17, 2024 15:29 (IST)
Link Copied
Share

Jindal Stainless Ltd. reported a 20% year-on-year fell in consolidated net profit for the second quarter of this financial year, missing analyst estimates.

The stainless-steel maker recorded a consolidated net profit of Rs 609.42 crore for the quarter ended September, compared to Rs 764.03 crore in the same quarter of the previous fiscal year, according to its stock exchange notification. This was above the Rs 729 crore estimate by analysts tracked by Bloomberg.

Revenue decreased by 0.2% year-on-year for the three months ended September, reaching Rs 9,776.83 crore. Analysts had projected revenue of Rs 9,367 crore.

Operating income, or earnings before interest, taxes, depreciation, and amortisation, fell 4% year-on-year to Rs 1,186.49 crore. The Ebitda margin contracted to 12.1% from 12.6% in the same period the previous year. Analyst estimates for Ebitda and Ebitda margin tracked by Bloomberg were Rs 1,242 crore and 13.30%, respectively.

Oct 17, 2024 15:15 (IST)
Link Copied
Share

Indian Overseas Bank Q2 Highlights (Standalone)

  • NII up 8% at Rs 2,538 crore versus Rs 2,346 crore (YoY).

  • Net profit up 24% at Rs 777 crore versus Rs 625 crore (YoY)

  • Gross NPA at 2.72% versus 2.89% (QoQ).

  • Net NPA at 0.47% versus 0.51% (QoQ).

Oct 17, 2024 14:59 (IST)
Link Copied
Share

Havells India Q2 Results: Profit Up Nearly 8%, But Misses Estimates

Oct 17, 2024 14:52 (IST)
Link Copied
Share

Tata Communications Q2 Highlights (Consolidated, QoQ)

  • Revenue up 2% at Rs 5,767 crore versus Rs 5,633 crore

  • Ebitda down 0.6% at Rs 1,116 crore versus Rs 1,123 crore

  • Ebitda margin at 19.4% versus 19.9%

  • Net profit down 32% at Rs 227 crore versus Rs 333 crore

Oct 17, 2024 14:16 (IST)
Link Copied
Share

Axis Bank is likely to clock a bottom line of Rs 6,381 crore and, according to Bloomberg estimates.

Jindal Stainless Ltd., a leading stainless steel manufacturer, is likely to report a net profit of Rs 729 crore and revenue of Rs 9,367.00 crore, according to Bloomberg estimates. It is likely to post an Ebitda of Rs 1,242 crore and an Ebitda margin of 13.30%.

Two companies from the Tata Group, Tata Chemicals Ltd. and Tata Communications Ltd., are set to announce their second-quarter earnings on Oct. 17.

Analyst estimates show that Tata Chemicals is likely to report a net profit of Rs 231 crore and revenue of Rs 3,994.0 crore, according to Bloomberg estimates. It is likely to post an Ebitda of Rs 647 crore and an EBIT margin of 16.20%.

Tata Communications is estimated to report a profit of Rs 271 crore and a revenue of Rs 5,777 crore. It is expected to post an Ebitda of Rs 1,158 crore and an Ebitda margin of 20%.

Oct 17, 2024 13:54 (IST)
Link Copied
Share

Karur Vysya Bank Q2 Highlights (Standalone)

  • NII up 16% at Rs 1,060 crore versus Rs 915 crore (YoY).

  • Net Profit up 25% at Rs 474 crore versus Rs 378 crore (YoY).

  • Net NPA at 0.28% versus 0.38% (QoQ).

  • Gross NPA at 1.10% versus 1.32% (QoQ).

Oct 17, 2024 13:35 (IST)
Link Copied
Share

Central Bank of India Q2 Highlights (Standalone)

  • NII up 13% at Rs 3,411 crore versus Rs 3,023 crore (Y-o-Y).

  • Net profit up 51% at Rs 913 crore versus Rs 605 crore (Y-o-Y).

  • Gross NPA at 4.59% versus 4.54% (Q-o-Q).

  • Net NPA at 0.69% versus 0.73% (Q-o-Q).

Oct 17, 2024 13:06 (IST)
Link Copied
Share

Nifty, Sensex Trade Lower As HDFC Bank, Bajaj Auto Fall: Midday Market Update

Oct 17, 2024 12:48 (IST)
Link Copied
Share

Morgan Stanley expects Infosys to lead revenue growth by reporting organic constant currency sequential revenue growth of 2.8%. Bank of America expects this kind of revenue growth, including inorganic growth.

Large deal ramp-up and hiring in the second quarter should be margin headwinds. However, subcontractor optimisation and the positive impact of value-based selling should be able to negate the headwinds, according to JM Financial.

Motilal Oswal sees the company's operating margin inch down 80 basis points due to reversal of one-offs, large deal investments and decline in utilisation.

In terms of guidance, BofA, Morgan Stanley and Motilal Oswal expect Infosys to upgrade its full-year guidance by 50 basis points, while Ambit Capital expects it to maintain it. 

On demand commentary amid a cautious environment, ICICI Securities underscores that cost efficiency focus and deal consolidation will continue. Traction in financial services is expected to continue from the first quarter; higher traction in hi-tech and recovery in communication is also expected, it adds.

Read more here.

Oct 17, 2024 12:31 (IST)
Link Copied
Share

Nestle India Invests Rs 705 Crore In JV With Dr Reddy's Labs

Oct 17, 2024 12:25 (IST)
Link Copied
Share

Nestle stock fell as much as 3,2% during the day to Rs 2,381 apiece on the NSE. It was trading 2.8% higher at Rs 2,393 apiece, compared to a 0.76% advance in the benchmark Nifty 50 as of 10:24 p.m.

It has risen 2.6% during the last 12 months and has declined by 9.8% on a year-to-date basis. The relative strength index was at 26.

Sixteen out of the 38 analysts tracking the company have a 'buy' rating on the stock, 17 suggest a 'hold' and five have a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 9%.

Oct 17, 2024 12:15 (IST)
Link Copied
Share

Nestle India Q2 Results: Profit Dips 0.9%, Meets Estimates

Oct 17, 2024 12:03 (IST)
Link Copied
Share

Infosys Ltd., which is set to announce its earnings for the second quarter of the current financial year on Thursday, is expected to see a growth in revenue, profits and margin. 

The IT services major's consolidated net profit may rise 7% sequentially to Rs 6,815 crore in the quarter ended September, according to a consensus of analysts' estimates tracked by Bloomberg.

Infosys Q2 FY25 Earnings Estimates (Consolidated, QoQ)

  • Revenue may rise 3.5% to Rs 40,707 crore.

  • Profit may rise 7% to Rs 6,815 crore.

  • EBIT margin may expand 30 basis points to 21.4%.

  • EBIT may rise 5.2% to Rs 8,726 crore.

Infosys has guided for revenue growth of 3–4% for the fiscal. The company raised its revenue forecast, citing significant large deals during the April–June period.

Read more here.

Oct 17, 2024 11:44 (IST)
Link Copied
Share

BofA and Morgan Stanley expect Wipro to guide for constant currency revenue growth of −0.5% to 1.5% for the third quarter, on the back of healthy deal wins. 

Brokerages note that the second quarter margins will be impacted due to the wage hike. Operational efficiencies and favourable foreign exchange will likely aid 35 basis points sequential expansion in EBIT margin to 16.8%, according to JM Financial. 

On demand, ICICI Securities notes that demand commentary has not improved with continued pressure on discretionary spends. However, some green shoots in consulting, in line with superior Capco performance in Q4FY24 and Q1FY25, are expected. Q2 is estimated to fare better than Q1. Energy and utility verticals are estimated to be soft, with large deals coming to an end, the brokerage added. 

In Q1, large deal bookings stood at $1,154 million, and total bookings were at $3.28 billion. Ahead of Q2 results, ICICI Securities notes that there is some decline in large deal announcements QoQ in Q2, with some deals from hi-tech and ER&D.

Oct 17, 2024 11:24 (IST)
Link Copied
Share

IT bellwether Wipro is expected to see improvement in revenue, while profits might dip marginally. 

The IT services firm's net profit may fall 0.2% sequentially to Rs 2,996 crore in the quarter ended September, according to a consensus of analysts' estimates tracked by Bloomberg.

Wipro Q2 FY25 Earnings Estimates (Consolidated, QoQ)

  • Revenue may rise 1.4% to Rs 22,271 crore.

  • Ebit may come in flat at Rs. 3,625 crore.

  • Margin expected to be flat at 16.3% 

  • Net profit may fall by 0.2% to Rs. 2,996 crore.

Management commentary on steps towards the long-term plan under the new management, demand trajectory in the consulting business Capco, trajectory in the BFSI space, and update on healthcare, retail, and energy and utilities verticals is to be watched out for. 

Read more here.

Oct 17, 2024 11:05 (IST)
Link Copied
Share

Two companies from the Tata Group, Tata Chemicals Ltd. and Tata Communications Ltd., are set to announce their second-quarter earnings on Thursday.

Analyst estimates show that Tata Chemicals is likely to report a net profit of Rs 231 crore and revenue of Rs 3,994.0 crore, according to Bloomberg estimates. It is likely to post an Ebitda of Rs 647 crore and an EBIT margin of 16.20%.

Tata Communications is estimated to report a profit of Rs 271 crore and a revenue of Rs 5,777 crore. It is expected to post an Ebitda of Rs 1,158 crore and an Ebitda margin of 20%.

Oct 17, 2024 10:55 (IST)
Link Copied
Share

Oct 17, 2024 10:44 (IST)
Link Copied
Share

Infosys share price advanced 2% intraday to Rs 1,958.35 apiece. The scrip was trading 1.74% higher at Rs 1,953.5 by 9:45 a.m. The benchmark NSE Nifty 50 was down 0.56%, while the Nifty IT index surged 0.74% with most constituents in the green.

The stock has risen 35% in the last 12 months and 26% on a year-to-date basis. The relative strength index was at 32.

Thirty out of the 45 analysts tracking the stock have a 'buy' rating on the stock, 10 recommend a 'hold' and five suggest a 'sell', according to Bloomberg data. The average 12-month analyst price target of Rs 1,981.8 implies a potential upside of 2.2%.

Oct 17, 2024 10:32 (IST)
Link Copied
Share

Stock Market Live: Nifty, Sensex Extend Fall As HDFC Bank, Bajaj Auto Drag; Nifty Bank Loses 1%

Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.

Newsletters

Update Email
to get newsletters straight to your inbox
⚠️ Add your Email ID to receive Newsletters
Note: You will be signed up automatically after adding email
Newsletter Preview

Videos

Watch
LIVE

News for You

T20 World Cup Top Performers: Pathum Nissanka Steals The Thunder On Action-Packed Day 10

T20 World Cup Top Performers: Pathum Nissanka Steals The Thunder On Action-Packed Day 10

Live TV
Apps
Social
Hello Reader
Sign In / Register
Set as Trusted Source
on Google Search