Q2 Results Live: SBI, LIC, Tata Motors, Ashok Leyland, MRF, Ola Electric

Leading tyre manufacturer MRF is expected to post a profit in the range of ₹480–490 crore, with revenue estimated at around ₹7,200 crore.

For comparison, MRF’s profit in the same quarter last year saw a substantial year-on-year increase, reaching ₹572 crore from ₹124 crore, while revenue rose by 6% to ₹6,088 crore. 

Analysts anticipate that Ashok Leyland, the flagship of the Hinduja Group, may report a decline in both revenue and profit for the second quarter of this fiscal year.

“The company’s revenue is projected to fall by 12% year-on-year to ₹84.8 billion, driven by a 7% decrease in volumes and a 5% drop in realization. Medium and Heavy Commercial Vehicle (M&HCV) volumes are expected to be down by 10%, while Light Commercial Vehicle (LCV) volumes may decline by 2%. The decline in realization is attributed to an unfavourable tonnage mix,” according to Mumuksh Mandlesha, Research Analyst at Anand Rathi Institutional Equities.

Ashok Leyland’s EBITDA margin may contract by 40 basis points year-on-year to 10.8% due to negative operating leverage, with profit after tax (PAT) likely to decrease by 8% year-on-year to ₹5.4 billion.

A strong loan growth coupled with lower credit cost could see State Bank of India post about 20 per cent year-on-year (yoy) growth in net profit in the second quarter (Q2FY25), per the average of estimates by various brokerages.

India’s largest bank could post a net profit of about Rs 17,200 crore, per the estimates.

Impacted by weakness in passenger and commercial vehicle demand, Indian automaker Tata Motors’ revenue is expected to decline in Q2. 

According to analysts, during the quarter Tata Motors was also impacted by weakness in JLR demand and supply constraints. 

“Consolidated INR revenue to decrease c4 per cent year-on-year on weakness in JLR, PV and CV volumes. Expect the EBITDA margin to expand slightly by c8bp y-y to 13.1 per cent (-122bp q-q) on a better model and region mix at JLR y-y. Expect JLR revenue to decrease 6 per cent y-y, with EBITDA margin contracting c103bp y-y and 194bp q-q to 13.9 per cent, as we see higher incentivisation to impact gross margins at JLR,” stated BNP Paribas.

India Inc reported revenue growth of 8 per cent YoY and PAT decline of 2.8 per cent YoY in Q2FY25 (1129 companies as of Nov-5). But adjusted for BFSI and Power & Energy companies, which are the best and worst performing sectors respectively, revenue/PAT grew 9.4/10.8 per cent YoY for the remaining 917 companies. Read more

Insurance behemoth Life Insurance Corporation of India (LIC) on Thursday reported a 9.4 per cent increase in consolidated net profit for the quarter ended June 30, 2024, to ₹10,544 crore (₹9,635 crore). Read more

State Bank of India (SBI) is planning to open 600 branches across the country in the current financial year in a bid to tap business opportunities in emerging areas including large residential townships. Read more

State Bank of India (SBI) raised ₹5,000 crore through Basel III compliant Additional Tier 1 (AT-1) bond issuance on Wednesday at a coupon rate of 7.98 per cent. This is the bank’s first AT-1 bond issuance in the current financial year.

The combined market valuation of 6 of the top-10 most-valued firms surged ₹1,07,366.05 crore last week, with ​State Bank of India​ and ​ICICI Bank​ becoming the biggest gainers. ​Read more​

Driven by strong automobile sales, Mahindra and Mahindra reported a 35 per cent rise in consolidated net profit at ₹3,170 crore for the quarter that ended in September against ₹2,347 crore reported during the same quarter last year. This, however, is a 3.41 per cent (₹3,282 crore) dip from the June quarter.

Revenue from operations of the company saw an uptick of 1.83 per cent, to ₹37,689 crore in the September quarter, compared to ₹37,010 crore reported in the year-ago period. Revenue also saw a 1.83 per cent increase at ₹37,010 crore. 

Indian Hotels Company Limited’s (IHCL) consolidated net profit tripled to ₹555 crore in the second quarter of FY2025 on a year-on-year basis due to an exceptional gain of ₹307 crore following the consolidation of in-flight catering arm with the hotel business. In the same quarter last year, IHCL had posted a net profit of ₹160 crore.

The company’s revenue grew 28 per cent to ₹1890 crore and EBITDA rose 40 per cent to ₹565 crore. Excluding consolidation impact, the revenue and EBITDA growth came at 16 per cent and 30 per cent respectively.

FMCG major Emami on Thursday reported a 17.22 per cent year-on-year rise in its consolidated net profit to ₹210.99 crore for the second quarter this fiscal from ₹179.99 crore for the same period last fiscal.

The Kolkata-based company’s revenue grew 2.97 per cent y-o-y at ₹890.59 crore for the second quarter compared to ₹864.87 crore for the corresponding period of Q2FY24, according to a stock exchange filing.