JIO FINANCIAL SERVICES LTD Q2 RESULTS
![Amazon in q-comm queue; Big B’s Swiggy stake](https://img.etimg.com/thumb/msid-112850998,width-100,height-75,resizemode-4/tech/newsletters/morning-dispatch/amazon-in-q-comm-queue-big-bs-swiggy-stake.jpg)
Amazon in q-comm queue; Big B’s Swiggy stake
Happy Wednesday! Amazon India is gearing up to enter the quick commerce space independently, sources tell us. This and more in today’s ETtech Morning Dispatch.
![Jio Financial Services gets nod to raise foreign investment limit to 49%](https://img.etimg.com/thumb/msid-112783490,width-100,height-75,resizemode-4/industry/banking/finance/jio-financial-services-gets-nod-to-raise-foreign-investment-limit-to-49.jpg)
Jio Financial Services gets nod to raise foreign investment limit to 49%
Jio Financial Services Ltd has been granted approval to raise its foreign investment limit to 49%. Foreign investors currently hold 17.55% of the company's shares. The company's net profit fell 6% in the first quarter ending June. Jio Financial introduced new services such as mutual fund loans and auto insurance in July.
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Nifty rejig today: Trent, Bharat Electronics top candidates
Tata Group's Trent and Bharat Electronics might join the Nifty 50 index, replacing LTI Mindtree and Divis Laboratories, as per JM Financial. The rebalancing, based on six-month data till July 31, will be effective from September 30. Jio Financial and Zomato are not included due to segment restrictions.
![Veranda Learning Solutions achieves stellar Q1FY25 growth, revenue surges 70%, EBITDA jumps fivefold](https://img.etimg.com/thumb/msid-112557025,width-100,height-75,resizemode-4/industry/services/education/veranda-learning-solutions-achieves-stellar-q1fy25-growth-revenue-surges-70-ebitda-jumps-fivefold.jpg)
Veranda Learning Solutions achieves stellar Q1FY25 growth, revenue surges 70%, EBITDA jumps fivefold
Veranda Learning Solutions reported strong Q1FY25 financial results, with operating revenue up 72.69% to Rs 118.99 crores and EBITDA increasing by 400% to Rs 27.61 crores. The company trained 113,262 students and attributed its success to strategic partnerships with Cambridge, Pearson, and KSDC. The company aims for Rs 600 crores in revenue for FY25.
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FII selloff hits Rs 30,000 crore since Budget but why aren't alarm bells ringing?
FIIs have sold Indian stocks worth Rs 30,000 crore since the Budget due to high valuations and global economic concerns. Despite the sell-off, Indian markets remained resilient due to strong domestic investor support. Analysts expect FII behavior to improve by November as key global economic conditions stabilize.
![Oil and gas spoil India Inc show in June Quarter](https://img.etimg.com/thumb/msid-112538803,width-100,height-75,resizemode-4/markets/stocks/news/oil-and-gas-spoil-india-inc-show-in-june-quarter.jpg)
Oil and gas spoil India Inc show in June Quarter
In the June 2024 quarter, India's industry saw modest growth with a 9.4% net profit increase, mainly due to lower refining and marketing margins in the oil and gas sector. Banking and finance sectors performed well with significant revenue growth. The overall operating margin declined to 17.4%. Future growth hinges on rural demand revival post-monsoon.
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Vodafone Idea shares rally over 3% after narrowing Q1 losses. Should you invest?
Vodafone Idea's shares climbed 3.5% as it narrowed its Q1 2024 losses to Rs 6,432 crore. Revenue dipped slightly by 1.38% to Rs 10,508 crore. The company's ARPU grew to Rs 146 from Rs 139. Brokerages provided differing opinions on Vodafone Idea's future, amid concerns about debt and government support.
Hindalco net debt negative in India; in Q2, EBITDA per tonne to come in a bit lower than in Q1: Satish Pai
Hindalco reported higher-than-expected sales for the quarter, driven by strong demand and operational efficiency. Consolidated EBITDA soared 31% year-on-year to Rs 7,992 crore. MD Satish Pai stated that the company will stick with its Rs 600 crore guidance, focusing on profitability rather than top-line growth as aluminium prices influence revenue unpredictably.
Q1 results today: Hindalco, Nykaa among 660 companies to announce earnings on Tuesday
Q1 results today: Samvardhana Motherson, Muthoot Finance, SJVN, Max Financial Services, Gujarat Fluorochemicals, Endurance Technologies, Ipca Labs, NBCC (India), Godrej Industries among others will also declare their quarterly results
Nykaa Q1 Preview: PAT seen growing multifold; BPC, fashion to drive revenues
Nykaa Q1 Result Preview: FSN E-Commerce Ventures, which operates beauty and fashion omnichannel retailer Nykaa, is expected to report healthy revenues during the first quarter ended June 2024, driven by the BPC (beauty and personal care) and fashion businesses.
Q1 results today: IRFC, Vodafone Idea among 528 companies to announce earnings on Monday
As the first quarter earnings season nears its end, 528 companies are set to release their results on Monday. Key reports include IRFC, Vodafone Idea, and NMDC. Vodafone Idea is expected to report flat revenue and losses between Rs 7,489-8,100 crore. EBITDA is forecasted to see a slight year-on-year rise despite challenges.
Vodafone Idea Q1 preview: Subscriber losses, flat ARPU to dent revenue prospects
Vodafone Idea is expected to report a flat revenue for the quarter that ended June 30 owing to losses in the subscriber base coupled with a flattish Average Revenue Per User (ARPU) according to estimates by four brokerages.
JFSL to lead way in shaping prosperous, inclusive financial future for India: Mukesh Ambani
Jio Financial Services Ltd aimed to revolutionize finance in India with advanced technology and personalized products. Mukesh Ambani highlighted a focus on innovation and customer-centric solutions. The launch of the JioFinance App demonstrated this vision, promising simplified, user-friendly financial management. He anticipated continued progress with the support of stakeholders.
Freshworks reports 20% revenue growth in Q2 at $174 million
The Chennai-based firm also upped its revenue guidance. Freshworks has given a 2024 full-year guidance revenue of $707 -$713 million, which has gone up marginally by around 1-2% on the back of rising demand for the firm’s AI solutions.
Suzlon shares zoom 23% since Q1 results. Still time to ride the rally?
Suzlon Energy's shares hit a new high following a 23% rally spurred by impressive Q1 results, including a 200% year-on-year profit gain and a 50% revenue increase. Brokerage firms have raised target prices, highlighting the company's strong order book and improved financial health.
Will Nifty cross 25,000 this week? Fed meeting & 5 other factors to watch out for
The stock market showed strong recovery last week, buoyed by positive US GDP data. This week, factors such as the US Fed meeting, Q1 earnings reports, FII flows, and global economic data could influence market trends. Analysts believe Nifty might hit the 25,000 mark for the first time.
L&T shares rise 2% after 12% YoY jump in PAT. Should you buy, sell or hold?
Larsen and Toubro (L&T)’s shares rose by 2% after it reported a consolidated net profit of Rs 2,786 crore for Q1 FY25. Revenue from operations saw a 15% YoY increase, driven by robust execution in projects and manufacturing. Orders grew by 8%, with strong momentum in the Middle East, per analysts insights.
M&M Financial Q1 Results: Standalone PAT jumps 45% YoY to Rs 513 crore, NII up 15%
M&M Financial Q1 Results: The company saw a 20% increase in total income, reaching Rs 3,760 crore. Standalone pre-provisioning operating profit (PPOP) also rose by 13%, reaching Rs 1,135 crore. The company has successfully reduced credit costs by 15% in the April-June quarter, lowering them to Rs 448 crore. Credit costs as a percentage of average total assets also improved, falling from 2.1% to 1.5%.
After recent tariff hike, Jio ARPU to get boost: Analysts
Reliance Jio’s robust net profit growth in Q1 FY25 was attributed to lower depreciation and amortization costs and reduced network expenses due to moderated 5G capital expenditures. Analysts expect Jio's recent tariff hikes to significantly boost ARPU in upcoming quarters, with estimates projecting ARPU growth to Rs 201/224/259 by FY25/26/27. Despite concerns over rising selling and distribution costs, Jio’s EBITDA margins improved, driven by efficient cost management and tariff increases. Jio's 5G expansion and new pricing strategies are expected to further enhance revenue and profitability.
Reliance Jio Q1 Results: PAT jumps 12% YoY to Rs 5,445 crore, revenue rises 10%
Reliance Jio Q1 Results: The Reliance Industries' telecom subsidiary reported revenue from operations at Rs 26,478 crore, an increase of 10% from Rs 24,042 crore reported in the corresponding period of the previous financial year. The standalone revenue was up 2% on a quarter-on-quarter basis from Rs 25,959 crore reported in the January-March quarter.
Tata Tech shares fall 2% after Q1 results fail to impress. Should you still invest?
Tata Technologies' shares fell 2% after reporting a 15% YoY drop in net profit to Rs 162.03 crore, affected by higher technology expenses. Revenue rose 0.9% YoY to Rs 1,269 crore. With VinFast exit, Kotak advised Sell while JM Financial recommended Buy, forecasting growth through BMW JV, 5 deal wins, resilient margins, education business, and resumed projects.
Paytm Q1 results preview: Revenue may fall by up to 36%, net loss likely to widen
One 97 Communications, operating Paytm, could report a net loss between Rs 1,013 crore and Rs 840 crore and a revenue between Rs 1,532 crore and Rs 1,490 crore for June 2024, according to estimates by two brokerages.
Jio Financial Services shares dip 2% after Q1 results disappoint
Jio Financial shares fell 3% to Rs 346.80 following a Q1FY25 net profit drop to Rs 313 crore. Revenue was Rs 418 crore, interest income Rs 162 crore. Sequential net profit increased to Rs 311 crore. Standalone PAT recorded Rs 72 crore. Shares surged 48% year-to-date since August 21, supported by partnerships with 31 insurance firms.
Jio Financial Services Q1 Results: Cons PAT falls 6% YoY to Rs 313 crore, revenue up 1%
Jio Financial Services Q1 Results: In the most recent quarter, the company's total revenue from operations saw a slight increase to Rs 418 crore compared to the same period last year. However, standalone PAT decreased to Rs 72 crore from Rs 78 crore in the previous quarter and Rs 145 crore in the same quarter last year. Standalone revenue from operations also decreased to Rs 134 crore from Rs 141 crore in the previous quarter and Rs 215 crore in the same quarter last year.
Jio Financial Services Q1 Results: Net profit falls 6% YoY to Rs 313 crore
Interest income fell 20% to Rs 162 crore in June 2024 from Rs 202 crore a year ago while expenses increased to Rs 79 crore from Rs 54 crore a year ago, mainly as staff expenses increased more than three time to Rs 39 crore in June 2024.
Jio Financial Services Q1 results today: Shares climb ahead of announcement
Jio Financial Q1 Results: Jio Financial Services shares rose 2% to Rs 355 on the BSE before Q1 FY25 results and RBI's CIC conversion approval. Q4 FY24 net profit was Rs 311 crore, revenue Rs 418 crore. FY24 net profit hit Rs 1,604 crore. Application to RBI in November 2023 after demerging from Reliance Industries Limited, RSI currently at 46.8 per Trendlyne data.
Q1 results today: Jio Financial, SpiceJet, HDFC Life among 36 companies announce earnings on Monday
HDFC Life, Jio Financial, HDFC AMC, Angel One, SpiceJet, and 36 other companies including Hatsun Agro, KBC Global, Kelton Tech, Modern Engineering, Monarch Networth Capital, Oasis Securities, Rajoo Engineers, Sheetal Cool Products, Tahmar Enterprises, Styrenix Performance will announce Q1FY25 earnings. Important aspects to watch include HDFC Life's APE and VNB estimates.
Q1 results this week: RIL, Paytm, Infosys, Jio Financial among 418 companies to announce quarterly earnings
Several widely followed companies, including Jio Financial, Paytm, Bajaj Auto, Asian Paints, LTIMindtree, Infosys, Reliance Industries, Wipro, Union Bank of India, Kotak Mahindra Bank, Tanla Platform, Tata Technologies, and YES Bank, will be releasing their June quarter report cards this week.
Profit booking or another record high in Nifty this week? Track these 5 factors
After six consecutive weeks of gains, the Nifty is experiencing mixed signals due to the anticipation surrounding the upcoming Budget and the ongoing earnings season. The Sensex managed to end the week 0.65% higher, while the BSE Smallcap index saw a slight decline of 0.26%. The June quarter earnings season began this week, and FII inflow into D-St crossed the Rs 15,000 crore mark in June.
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