POPULAR VEHICLES AND SERVICES LTD Q2 RESULTS
![India's GDP hits 15-month low of 6.7% in Q1FY25](https://img.etimg.com/thumb/msid-112921078,width-100,height-75,resizemode-4/news/economy/indicators/indias-gdp-grows-in-q1fy25.jpg)
India's GDP hits 15-month low of 6.7% in Q1FY25
India's gross domestic product grew at 6.7 per cent for Q1FY25. Experts were anticipating moderate growth for this quarter, attributing their expectations to the general elections of 2024, a slump in urban consumption and a previously-sluggish rural growth. The Reserve Bank of India had in August projected India's GDP to grow at 7.1 per cent for the first quarter of fiscal year 2024-25.
![Take notice! In a muted Q1 season, these 14 companies doubled sales and profits](https://img.etimg.com/thumb/msid-112823853,width-100,height-75,resizemode-4/markets/stocks/earnings/take-notice-in-a-muted-q1-season-these-14-companies-doubled-sales-and-profits.jpg)
Take notice! In a muted Q1 season, these 14 companies doubled sales and profits
14 companies with market capitalization exceeding Rs 2,500 crore demonstrated exceptional performance in Q1 2024, doubling their sales and profits. Top performers included Spright Agro and Diamond Power Infrastructure. The broader market saw mixed results with sectors like BFSI and automobile doing well, but oil marketing companies underperforming.
![Q1 growth seen in slow motion on manufacturing slump, lower government spending amid polls](https://img.etimg.com/thumb/msid-112748530,width-100,height-75,resizemode-4/news/economy/indicators/q1-growth-seen-in-slow-motion-on-manufacturing-slump-lower-government-spending-amid-polls.jpg)
Q1 growth seen in slow motion on manufacturing slump, lower government spending amid polls
India's growth in Q1 FY25 slowed to a median 6.85%, impacted by lower urban consumption, weakened manufacturing, and reduced government spending during elections. Economists anticipate recovery in subsequent quarters despite an uneven monsoon and tepid commodity gains. The government will release detailed growth data by August 30.
![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.
![Tencent Q2 Results: Revenue rises on gaming business recovery](https://img.etimg.com/thumb/msid-112530603,width-100,height-75,resizemode-4/markets/stocks/earnings/tencent-q2-results-revenue-rises-on-gaming-business-recovery.jpg)
Tencent Q2 Results: Revenue rises on gaming business recovery
China's Tencent Holdings reported an 8% rise in second-quarter revenue on Wednesday, driven by a recovery in its gaming business after a launch of a new mobile game in May that got off to a strong start.
![Dish TV records net loss of Rs 1.6 crore in Q1](https://img.etimg.com/thumb/msid-112520254,width-100,height-75,resizemode-4/markets/stocks/news/dish-tv-records-net-loss-of-rs-1-6-crore-in-q1.jpg)
Dish TV records net loss of Rs 1.6 crore in Q1
Dish TV Q1 Results: Dish TV experienced a net loss of Rs 1.6 crore in the June quarter, a significant decline from the Rs 21 crore profit in the same period last year. Operating revenue fell by 9%, mainly due to decreased subscription revenue. The board has approved raising Rs 1,000 crore through various means, including equity shares and debentures.
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Apollo 24/7 GMV to go up to Rs 1,000 cr per quarter over next 18 months: Suneeta Reddy
Apollo Hospitals' Suneeta Reddy forecasted a 5% price impact for next quarter, citing the recent muted performance from elections and a heatwave. Regional occupancy and margins varied, with Nashik serving as a referral center. Apollo 24/7 aims for Rs 1,000 crore quarterly in six quarters. AHLL is on an improving revenue trajectory despite new centers impacting margins.
Q2 goods exports seen 4.2%: EXIM Bank
“Positive growth in India’s exports could be as a result of India’s continued strong economic activity backed by sustained momentum in manufacturing and services sector, expected global monetary easing and improving demand prospects in trading partners,” the bank said in a statement.
Voltas Q1 net profit soars 160% YoY to Rs 335 crore, stock jumps 10%
Voltas Q1 Results: Air conditioning maker Voltas on Monday posted a 160% year-on-year (YoY) jump in consolidated net profit to Rs 335 crore for the June quarter of FY25. It had clocked Rs 129 crore profit in the year-ago period.
Voltas Q1 Results: Standalone net profit jumps 58% YoY to Rs 339.14 crore, revenue rises 45%
In the company's unitary cooling products segment, which includes the AC business, revenue surged by 51% year-on-year to Rs 3,802.17 crore for the quarter under review. Segment profitability increased by 58% year-on-year, reaching Rs 327.02 crore. As the country's largest AC brand, the company reported record sales of one million units last quarter, with an overall volume growth of 67% year-on-year.
Grasim Industries Q1 Results: Profit slides by a fourth to Rs 1,189 crore on investment in paints ops
The flagship company of the Aditya Birla launched its paints operations ‘Birla Opus’ towards the end of the March quarter, and April-June was its first quarter of full operations. The company has spent Rs 7,795 crore on its paints business as of June-end, approximately four-fifth of the total planned expenditure for these operations.
Inox Green Energy Services Q1 Results: Profit jumps 55% YoY to Rs 4.14 cr
Inox Green Energy Services is a subsidiary of Inox Wind Limited (IWL) which is India's leading wind energy solutions provider catering to independent power producers, utilities, public sector units and corporate investors
Eicher Motors Q1 Results: Cons PAT jumps 20% YoY to Rs 1,101 crore, beats estimates
Eicher Motors Q1 Results: ET Now had an estimated PAT of around Rs 1,031 crore. The two-wheeler manufacturer reported total revenue from operations of Rs 4,393 crore for the quarter, marking a 10% increase from Rs 3,986.37 crore in the same quarter of the previous financial year. This revenue figure also exceeded Street estimates, which were Rs 4,268 crore.
Eicher Motors Q1 preview: Revenue may rise by up to 7.2% YoY to Rs 4,273 crore on richer product mix
Eicher Motors Q1 Result Today: Eicher Motors' net profit for the quarter ended June 30, 2024, was projected between Rs 943 crore and Rs 1,034 crore. Revenue estimates ranged from Rs 4,178 crore to Rs 4,273 crore. The profit rise was attributed to volume growth and higher average selling prices of Royal Enfield motorcycles, according to multiple brokerages.
NSE Q1 Results: Cons PAT rises 39% YoY to Rs 2,567 crore, revenue jumps 51%
NSE Q1 Results: Revenue from operations for the reported quarter stood at Rs 4,510 crore. The net profit margins for Q1 FY25 were 52%. During this quarter, the bourse allocated an additional Rs 587 crore to enhance the Core Settlement Guarantee Fund (SGF) corpus, raising it to Rs 10,500 crore as recommended by SEBI. After this contribution, the core SGF corpus will stand at Rs 9,726 crore.
M&M shares fall over 2% on reporting muted Q1 profit. Should you invest?
Mahindra & Mahindra's shares fell over 2% after the company reported a 5% decline in standalone Q1 net profit to Rs 2,613 crore, despite a 12% rise in operational revenue. Leading brokerages, including BofA, JP Morgan, and Nuvama, remain optimistic, adjusting their target prices upwards.
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.
M&M Q1 Results: Standalone net profit falls 5% YoY to Rs 2,613 crore, revenue jumps 12%
M&M Q1 Results: The net profit was Rs 2,759 crore in the last year quarter. The auto player's Q1 revenue of ₹27,039 crore was driven by a 14% increase in vehicle sales. EBITDA also climbed 16% to ₹4,116 crore. The auto segment led the growth, with revenue up 16% and profit soaring 35% (excluding prior year gains).
Tata Consumer shares drop over 2% as Q1 results fail to impress. Should you invest?
Tata Consumer Products reported an 8% drop in profit after tax for the first quarter ended June 2024, falling to Rs 290 crore, below estimates. Shares fell 2.3%. Revenue from operations increased 16% year-on-year to Rs 4,352 crore. The drop in profit was attributed to higher exceptional items and lower returns from joint ventures and associates.
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 Q1 Results: Cons PAT jumps 12% YoY to Rs 2,786 cr, revenue rises 15%
L&T Q1 Results: Revenue from operations grew 15% YoY to Rs 55,120 crore, driven by strong performance in the projects and manufacturing (P&M) portfolio, supported by a substantial order book. In the first quarter, the company secured orders worth Rs 70,936 crore at the group level, showing an 8% year-on-year increase, thanks to robust ordering activity in the Middle East.
L&T Q1 Results today: PAT may rise 11% YoY; revenue growth to be led by energy and services biz
L&T set to shock the market with soaring revenues and profits in Q1! Analysts predict a jaw-dropping 12% revenue growth and 11% profit surge. Don't miss the thrilling updates on international orders and project performance. Brace yourself for the explosive results announcement on July 24!
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.
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.
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 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.
HCL Tech’s weak Q1 revenue hints at demand concerns
HCL Tech's Q1 FY25 results were mixed, with better-than-expected net profit due to higher other income offsetting disappointing revenue growth. Operating margins were under pressure as anticipated, and the company secured fewer new deals compared to the previous quarter, a trend also seen in its larger competitor, TCS.
Citigroup Q2 Results: Profit beats on surge in investment banking, services strength; but shares fall 3%
The third-largest U.S. lender reported a profit of $1.52 per share for the three months ending June 30, surpassing analysts' expectations of $1.39, according to LSEG data. Warren Kornfeld, senior vice president in the financial institutions group at Moody’s Ratings, noted that these results highlight Citi's challenging path toward achieving its shareholder returns target of 11% to 12%, up from 7.2% in the second quarter.
TCS Q1 Results: Cons PAT rises 9% YoY to Rs 12,040 crore, beats estimates
TCS Q1 Results: IT bellwether TCS reported a 9% YoY growth in its June quarter consolidated net profit, reaching Rs 12,040 crore, compared to Rs 11,120 crore in the same quarter last financial year. This profit exceeded the Street estimate of Rs 11,900 crore. Additionally, the company's board recommended a dividend of Rs 10 per share.
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