Infosys Q2 Results
Infosys, a leading player in the IT services sector, is set to announce its Q2 results today. The company is expected to report a 3% year-on-year (YoY) growth in consolidated net profit, reaching approximately ₹6,212 crore for the quarter ending September 2024. Consolidated revenue is anticipated to grow nearly 7% YoY, amounting to around ₹38,994 crore. Analysts have noted that Infosys has secured large total contract value (TCV) deals worth $7.7 billion during this quarter, which could significantly bolster its performance. However, the company has revised its revenue growth guidance for FY24 to between 1.0-2.5% in constant currency terms, reflecting a cautious outlook amid changing market conditions. Despite these adjustments, Infosys aims to maintain its operating margin target of 20-22%.
Wipro Q2 Results
Wipro, another major IT service provider, is also expected to release its Q2 results today. Analysts predict that Wipro will show decent net profit growth; however, revenue may decline by approximately 2% due to softer deal activity and the impact of recent wage hikes. The consensus among brokerage estimates suggests that Wipro’s net profit could rise between 9-12%, indicating resilience despite operational challenges. Investors will be keen to assess how Wipro navigates the current market environment while striving to enhance profitability.
Axis Bank Q2 Results
Axis Bank, a prominent private sector lender, is projected to report an 8-9% YoY increase in net profit for the quarter ending September 2024. This growth is expected to be driven by an increase in net interest income (NII) and non-interest income, alongside improved asset quality management. According to brokerage estimates, Axis Bank’s NII for Q2FY25 is anticipated to grow by about 10% YoY. While slippages are expected to rise by 29% YoY, they are forecasted to decline by approximately 12% compared to the previous quarter. Loan growth for the quarter is anticipated to be modest, with a projected increase of 2% QoQ, but a stronger 11% rise YoY.
LTIMindtree Q2 Results
LTIMindtree, known for its expertise in digital transformation and technology services, will also announce its quarterly results today. Investors are particularly interested in how LTIMindtree has performed amid ongoing digital transformation trends across various industries. Analysts will be looking for insights into revenue growth and profitability metrics as the company continues to expand its service offerings.
Nestle India Q2 Results
Nestle India, a leader in the fast-moving consumer goods (FMCG) sector, is set to report its Q2 earnings today as well. The company is expected to showcase steady growth driven by strong consumer demand for its products. Analysts anticipate that Nestle’s performance will reflect resilience in the FMCG space despite broader economic challenges.
Tata Chemicals Q2 Results
Tata Chemicals, part of the Tata Group and a key player in the chemicals sector, will also declare its quarterly results today. The market will be watching closely for insights into Tata Chemicals’ performance amid fluctuating commodity prices and demand dynamics within the industry.
Additional Companies Reporting
In addition to these major players, other companies such as Tata Communications, Indian Overseas Bank, Havells India, and Jindal Stainless will also release their quarterly results today. For instance, Indian Overseas Bank is expected to report improvements in net profit driven by enhanced interest income and reduced non-performing assets (NPAs). Havells India anticipates steady growth due to increased consumer spending on electrical goods.
Conclusion
As these companies prepare to announce their Q2 results today, investors are keenly awaiting insights into their financial health and future prospects. The outcomes from Infosys, Wipro, Axis Bank, LTIMindtree, Nestle India, Tata Chemicals, and others will likely influence trading strategies and market sentiment moving forward.Disclaimer: This article is intended for informational purposes only and should not be considered financial advice. Investors are encouraged to conduct their own research or consult with financial advisors before making any investment decisions regarding stocks mentioned herein.
