PTC INDIA FINANCIAL SERVICES LTD Q2 RESULTS
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. This was followed 7.2 per cent, 7.3 per cent and 7.2 per cent for Q2, Q3 and Q4 of FY25. But this projection contradicted with the views of other forecasters.
RVNL among India Inc's unlucky 13 with over 25% drop in both sales, profit in Q1
To maintain a premium valuation, a stock must demonstrate strong earnings growth and a positive future outlook. However, the June quarter results revealed that several prominent companies, including popular retail multibaggers, fell short in terms of earnings. ETMarkets reviewed companies with an m-cap of at least Rs 5,000 crore and identified 13 entities that reported at least a 25% YoY decline in sales and profit.
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.
Zomato captains India Inc’s dream Team XI with over 1,000% profit growth
The June quarter saw Zomato and 10 other companies achieving over 1,000% profit growth. Zomato's profit skyrocketed 12,550% year-on-year. Other remarkable performers were Shakti Pumps and Lotus Chocolate. Experts advise focusing on growth outlooks rather than past profits when making investment decisions.
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.
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.
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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.
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.
Muthoot Finance reports 28% growth in loan AUM, reaching Rs 98,048 cr in Q1 FY25
Muthoot Homefin (India) Ltd (MHIL), the wholly owned subsidiary, loan AUM stood at Rs.2,199 crores in Q1 FY25 as against Rs.1,501 crores in Q1 FY24, an increase of 47% YoY. The loan disbursement for Q1 FY25 stood at Rs.221 crores as against Rs.109 crores in Q1 FY24, a YoY increase of 103%. Total revenue for Q1 FY25 stood at Rs.73 crores as against Rs.44 crores in Q1 FY24, registering a growth of 66% YoY. Profit after tax stood at Rs. 8 crores in Q1 FY25 as against Rs.5 crores in Q1 FY24, an increase of 60% YoY. Stage III assets stood at 1.75% as of June 30, 2024, as compared to 1.88% last year.
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
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.
ABB India Q2 Results: Profit jumps 50% YoY to Rs 443 crore
The company's cash position continues to remain healthy at Rs 4,872 crore at the end of Q2 and H1 CY2024. The sequential lower cash balance was due to the final dividend payout for CY2023," the company statement said
ONGC shares jump on Q1 show, Oil India also
Shares of state-owned ONGC and Oil India rose almost 8% after ONGC's first-quarter profits surpassed estimates. Investors also anticipated strong results from Oil India and higher oil prices due to tensions in the Middle East. Analysts recommended waiting for a potential dip before investing further.
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.
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.
Tata Steel Q1 results today: Here's what to expect from the steel major
Tata Steel's Q1 FY2024 profitability was expected to rise significantly, with net profit growth ranging from 57% to 209% year-on-year, according to five brokerages. However, revenues were projected to fall 6%. India operations saw growth in deliveries and EBITDA, while Europe, particularly the UK, faced continued losses despite improvements in Netherlands operations.
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%.
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.
RIL Q1 results preview: Revenue may grow by 7-12% YoY, PAT could decline up to 6.3% on weak O2C
Reliance Industries is anticipated to report Q1FY25 profit between Rs 14,999 crore to Rs 19,084 crore with revenue estimates ranging from Rs 2,31,463 crore to Rs 2,22,254 crore. Concerns arise over O2C impact on earnings due to declining refining margins.
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.
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.
TCS, Infy power D-Street to fresh record highs! Sensex soars 900 points, Nifty tops 24,500 for the first time
Indian markets rose Friday, led by TCS's strong June quarter. Sensex climbed 281 points, Nifty50 up 93 points. Stocks like TCS, Infosys, and Adani Ports surged. Maruti fell. US inflation data raised September Fed rate cut chances, noted by CME FedWatch. RBI's Das predicted 5% retail inflation. Powell's testimony hinted at possible rate cuts.
SAT stays Sebi order on former PTC India CMD Rajib Kumar Mishra
The Securities Appellate Tribunal (SAT) has stayed a Sebi order that restrained former PTC India chairman and managing director Rajib Kumar Mishra from being a director in a listed entity for six months in a matter pertaining to corporate governance lapses.
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