JUNE QUARTER
Hathway Q1 Results: Net profit declines 18% YoY to Rs 18.3 crore, revenue at Rs 502.6 crore
Hathway Cable & Datacom Ltd -- provider of cable and internet services -- on Wednesday reported a decline of 18.1 per cent in consolidated net profit to Rs 18.32 crore for the June quarter. The company had posted a net profit of Rs 22.36 crore in the April-June period a year ago, according to a regulatory filing from Hathway Cable, a firm owned by the Reliance Industries Group.
ASML beats Q2 earnings forecasts; bookings rise on AI demand
ASML, the top chipmaking tool supplier, reported better-than-expected Q2 net income of $1.74B on €6.2B revenue, attributed to strong China sales and high new bookings. CEO Fouquet noted 2024 as a transition year with AI driving growth. Advanced EUV systems saw demand from TSMC, Intel, Nvidia, and Apple, with equipment planned for 2025-2027 projects.
Infosys Q1 Preview: Net profit may jump 6% YoY; strong sequential revenue growth seen
Infosys Ltd is anticipated to show solid sequential revenue growth in Q1 of June 2024, fueled by large deals. Net profit expected to rise by 6% year-on-year. Key areas of interest include deal TCVs, pricing, attrition, and growth/margin outlook. Analysts offer positive forecasts for Infosys performance.
GoMechanic achieves operational profit in April-June; FY24 revenue hits Rs 210 crore
GoMechanic, acquired by Servizzy in March 2023, achieved profitability by June 2024. Led by Himanshu Arora and Muskan Kakkar, it reported Rs 210 crore annual revenue and Rs 11.2 crore from accessories. The company introduced luxury, EV, and extended warranty programs and aims to expand to 1,000 cities by 2027, currently servicing 30,000 cars monthly.
Passenger traffic at Mumbai Airport rises 7 pc to 13.46 mn in Jun qtr
Mumbai International Airport Ltd (MIAL) reported a 7% year-on-year increase in passenger traffic, reaching 13.46 million in the June quarter of FY 2024. The airport handled 3.7 million international and 9.7 million domestic travelers. Domestic air traffic movements (ATMs) rose to 59,775, and international ATMs to 21,519. Delhi, Bangalore, and Hyderabad were the top domestic destinations, while Dubai, Singapore, and London led international travel. IndiGo dominated the domestic market with a 50% share, handling 4.99 million passengers. The Middle East remained the busiest international region.
L&T Finance Q1 Results: Cons PAT jumps 29% YoY to Rs 686 crore
NBFC firm L&T Finance on Tuesday reported a 29 per cent rise in consolidated net profit to Rs 686 crore for the first quarter ended June 2024 on the back of healthy interest income. The non-banking financial company had posted a net profit of Rs 531 crore in the same quarter in the previous fiscal.
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Mukul Agrawal adds smallcap counter Lux Industries in June quarter, trims stakes in 3 others
In Q2 2024, Mukul Agarwal added Lux Industries, while trimming stakes in Indian Metals & Ferro Alloys, Ethos, and Apollo Pipes. He increased positions in Hind Rectifiers and ISMT. Lux Industries saw 52% returns. Hind Rectifiers and ISMT yielded 147% and 95% annual returns. His diversified portfolio, including Radico Khaitan and Ceat, is valued at Rs 5,825.3 crore by Trendlyne.
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.
Exports positive in April-June quarter despite global challenges: Piyush Goyal
India's exports have shown positive growth in May and June, with Commerce and Industry Minister Piyush Goyal highlighting the role of the services sector in boosting outbound shipments despite global challenges. Merchandise exports rose by 9.1 per cent to USD 38.13 billion in May, and the first quarter of the current fiscal remained in the positive territory. Minister Goyal expressed optimism that India's goods and services exports could surpass USD 800 billion this fiscal year.
Q1 results today: DMart among 14 companies to announce quarterly earnings
Other results to watch out for include Bhansali Engineering, Excel Realty N Infra, Geojit Financial Services, Hathway Bhawani Cabletel, J Taparia Projects, Kernex Microsystems, K&R Rail Engineering, Mishtann Foods among others.
Ace investor Akash Bhansali raises stake to 1.21% in Paytm in June quarter
Bhanshali holds 19 stocks besides Paytm, totaling over ₹5,980.4 crore. Notably, retail investors increased their stakes in the company by 1.30% in the April-June quarter, reaching 16.56%.
Prestige Estates Q1 Results: Sale bookings fall 23% YoY to Rs 3,029 cr
Realty firm Prestige Estates Projects Ltd has reported a 23 per cent decline in its sale bookings to Rs 3,029.5 crore in the first quarter of this fiscal on lower volumes due to delay in launches of new projects. Its sale bookings stood at Rs 3,914.7 crore in the year-ago period.
PepsiCo quarterly revenue misses estimates as demand slows for snacks, sodas; shares drop over 3%
Analysts note that while product prices are normalizing after nearly two years of increases, they remain higher than pre-pandemic levels. This leaves packaged-food companies like PepsiCo with limited pricing power as volumes decrease. PepsiCo raised average prices by 5% for the quarter ending June 15, consistent with the first quarter, but overall organic volumes declined by 3% during the period.
Housing sales fell by 6% during the April-June quarter
Housing sales in India's top markets dip by 6% in Q2 2024, except for Bengaluru and Delhi-NCR. Anticipation of a pro-investment budget post-election impacts buyer decisions. New supply decreases slightly by 1%. MMR, Pune, and Bengaluru dominate both sales and new launches. Thane West, Panvel, and Dombivali emerge as top localities for sales and launches.
Manchester United reports wider quarterly loss in tough season
Manchester United fell deeper into the red in the third financial quarter of a tough season, with the English Premier League club confirming job losses on Wednesday and an increase in ticket prices.
Rekha Jhunjhunwala trims stake in CRISIL in June quarter, Ashish Kacholia raises in this smallcap
Kacholia on the other hand appears to have capitalised on the buy-on-dips opportunity. While its returns in 2024, so far have been negative 21%, on an annual basis they stand at 75%.
Retail asset securitisation volumes at Rs 48,000 crore in June quarter: CARE Ratings
Retail asset securitisation market shrinks by 13% to Rs 48,000 crore in June quarter. Originators flush with liquidity cited as primary reason. Increase in investor demand for PSL assets noted. MBS transactions lead DA volumes. Prediction of strong market performance in FY25.
Tata Motors group global sales rise 2% in June quarter
Tata Motors reported a 2% increase in global sales to 3,29,847 units in the June quarter, compared to 3,22,159 in the April-June quarter of FY24. However, global wholesales of passenger vehicles were lower by 1%. Jaguar Land Rover dispatches increased by 5%.
Rekha Jhunjhunwala trims stake in smallcap counter Raghav Productivity in June quarter
Rekha Jhunjhunwala trimmed her stake in Raghav Productivity Enhancers to 4.98% by June 30, 2024. The stock surged 70%, outperforming Nifty, and trades above SMAs.
Nykaa expects consolidated revenue to rise 22-23% in April-June quarter
In a BSE filing on its quarterly revenue update for the April-June quarter of FY25, Nykaa said for the consolidated entity, the GMV (Gross Merchandise Value) growth for the quarter is seen to be in the mid-20s year-on-year.
FMCG makers expect single-digit revenue growth, margin improvements in April-June quarter
Fast-moving consumer goods cos expect single-digit volume growth along with expansion in margins during the April-June quarter of this fiscal, helped by a revival in rural demand and a stable urban market. Listed FMCG companies such as Dabur, Marico and Adani Wilmar in their latest quarterly updates have reported a "gradual improvement" in demand trends in the April-June quarter, which was on the expected lines.
FMCG makers expect single-digit revenue growth, margin improvements in April-June quarter
FMCG companies like Dabur, Marico, and Adani Wilmar expect single-digit volume growth and margin expansion in the April-June quarter. Positive demand trends are observed, particularly in the rural market. Overall, FMCG players anticipate 7-9% revenue growth for the fiscal year.
Marico Q1 Update: Modest increase in volume growth on improved demand
Parachute oil maker Marico on Friday said sales volume growth at home saw a modest increase in the first quarter ended June 30 as demand improved gradually with consumers spending more on personal care and cooking products.
Adani Wilmar reports 13 pc volume growth in June quarter
Edible oil major Adani Wilmar announced on Friday that it reported a 13 percent volume growth in the June quarter. This double-digit growth was driven by market-specific strategies aimed at increasing market share, particularly in under-indexed markets. In a business update, the company stated, "In the first quarter of the current fiscal, the company achieved robust volume growth of 13 percent YoY."
RBL Bank shares tumble 4% after Q1 update disappoints
RBL Bank's shares fell 4.2% after its June quarter update showed a 2% QoQ drop in deposits to Rs 1.01 lakh crore, despite an 18% YoY rise.
Tesla deliveries set to fall for second straight quarter
The company is expected to deliver 438,019 vehicles for the April to June period, according to an average estimate based on forecasts from 12 analysts polled by LSEG, seven of whom slashed their expectations in the past three months. The EV maker is expected to announce the results on Tuesday.
Audi India sales dip 6 pc in June quarter
Audi India on Monday reported a 6 per cent dip in retail sales at 1,431 units during the April-June quarter this year. The German luxury carmaker had sold 1,524 units in the year-ago period. "While the supply situation in Q2 2024 has improved compared to Q1 2024; it still played a limiting factor on our sales performance," Audi India Head Balbir Singh Dhillon said in a statement.
Under-construction housing prices increase 15.2% in June quarter
Residential real estate supply surged in June quarter driven by under-construction properties, prices rose 11.7% and 15.2% sequentially, surpassing ready-to-move-in prices in Gurugram, Mumbai, Noida, and Thane.
Polls and weather take a toll on smartphone sales in June quarter
The smartphone market in the June quarter is likely to be tepid due to the impact of elections, heatwaves, and floods, leading some market experts to lower their growth outlook for 2024 smartphone shipments. Analysts expect a slowdown in Q2 shipments compared to Q1 due to fewer launches and adverse weather conditions. Counterpoint Research forecasts a 3-5% decline in Q2 shipments, with a revised annual forecast of 152 million units, reflecting a 3% year-on-year growth, down from the initial 5% growth prediction.
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