Headlines of the Day

Reliance Jio profits rise 4% on customer base growth

October 28, 2023

Reliance Jio Infocomm Ltd.’s second quarter profit rose, aided by an increase in customer base.

The net profit of India’s largest telecom company rose 4% to Rs 5,058 crore over the previous quarter in the July–September period, according to an exchange filing.

The average revenue per user improved 2.5% year-on-year to an all-time high of Rs 181.7, due to a better subscriber mix across mobility and wireline, partially offset by the start of 5G services, according to a company statement.

Reliance Retail Ventures Ltd.’s second quarter profit and revenue rose, aided by higher footfalls and continued store expansion.

The net profit of India’s biggest retailer, controlled by billionaire Mukesh Ambani, increased 21% over the previous year to Rs 2,790 crore in the quarter ended September, according to its parent company Reliance Industries Ltd.’s exchange filing.

State-run oil marketing company Bharat Petroleum Corp. Ltd. saw its net profit fall 22.5% quarter-on-quarter in the quarter ended September, though it surpassed analysts’ estimates.

The company reported a bottom line of Rs 8,243.55 crore as compared with Rs 10,644.3 crore in the previous quarter.

Revenue was down 9.05% at Rs 1,03,044.37 crore as against an estimate of Rs 1,17,527.7 crore.

Here are the major quarterly results announced after market hours on Friday:

Reliance Industries Q2 FY24 (Consolidated, QoQ)

Revenue is up 11.44% at Rs 2,31,886 crore vs. Rs 2,07,559 crore (Bloomberg estimate: Rs 2,23,433.65 crore).
Ebitda is up 7.54% at Rs 40,968 crore vs. Rs 38,093 crore (Bloomberg estimate: Rs 40,321.66 crore).
Ebitda margin at 17.66% vs. 18.35% (Bloomberg estimate: 18%)
Profit attributable to owners is up 8.63% at Rs 17,394 crore vs. Rs 16,011 crore (Bloomberg estimate: Rs 17,850.92 crore).

Reliance Retail Q2 FY24 (Consolidated, YoY)

Revenue is up 19.5% at Rs 68,937 crore vs. Rs 57,694 crore.
Ebitda up 30.8% at Rs 5,607 crore vs. Rs 4,286 crore.
Ebitda margin at 8.4% vs. 7.6%
Reported PAT is up 21% at Rs 2,790 crore vs. Rs 2,305 crore.

Reliance Jio Q2 FY24 (Consolidated, QoQ)

Revenue is up 2.94% at Rs 24,750 crore vs. Rs 24,042 crore.
Ebitda up 2.98% at Rs 12,953 crore vs. Rs 12,578 crore.
Ebitda margin at 52.33% vs. 52.31%
Reported PAT is up 4% at Rs 5,058 crore vs. Rs 4,863 crore.

Bharat Petroleum Corp Q2 FY24 (Consolidated, YoY)

Revenue is down 9.05% at Rs 1,03,044.37 crore vs. Rs 1,12,984.79 crore (Bloomberg estimate: Rs 1,17,527.70 crore).
Ebitda down 18.03% at Rs 12,940.51 crore vs. Rs 15,785.13 crore (Bloomberg estimate: Rs 9,308.30 crore).
Ebitda margin at 12.55% vs. 13.97% (Bloomberg estimate: 7.90%)
Reported PAT is down 22.55% at Rs 8,243.55 crore vs. Rs 10,644.3 crore (Bloomberg estimate: Rs 5,248.47 crore).

Union Bank of India Q2 FY24 (Standalone)

NII is up 10% at Rs 9,126.07 crore vs. Rs 8,305.01 crore YoY.
Reported PAT is up 90% at Rs 3,511.42 crore vs. Rs 1,847.7 crore YoY.
Gross NPA at 6.38% vs. 7.34% (QoQ)
Net NPA at 1.30% vs. 1.58% (QoQ)

SBI Cards Q2 FY24 (Standalone, YoY)

Total income is up 22.24% at Rs 4,221.4 crore vs. Rs 3,453.32 crore.
Reported PAT is up 14.73% at Rs 602.98 crore vs. Rs 525.54 crore.

M&M Financial Services Q2 FY24 (Standalone, YoY)

Total income is up 24.18% at Rs 3,240.49 crore vs. Rs 2,609.32 crore.
Reported PAT is down 47.53% at Rs 235.18 crore vs. Rs 448.3 crore (Bloomberg estimate: Rs 483.14 crore).

Ion Exchange India Q2 FY24 (Consolidated, YoY)

Revenue is up 19.07% at Rs 532.97 crore vs. Rs 447.61 crore.
Ebitda up 13.28% at Rs 60.39 crore vs. Rs 53.31 crore.
Ebitda margin at 11.33% vs. 11.9%
Reported PAT is up 9.43% at Rs 42.35 crore vs. Rs 38.7 crore.

IRB Infrastructure Developers Q2 FY24 (Consolidated, YoY)

Revenue is up 29.93% at Rs 1,744.996 crore vs. Rs 1,342.95 crore.
Ebitda up 19.47% at Rs 794.61 crore vs. Rs 665.1 crore.
Ebitda margin at 45.53% vs. 49.52%
Reported PAT is up 12.23% at Rs 95.75 crore vs. Rs 85.31 crore.

Mahanagar Gas Q2 FY24 (Consolidated, QoQ)

Revenue is up 2.29% at Rs 1,570.93 crore vs. Rs 1,537.79 crore (Bloomberg estimate: Rs 1,575.94 crore).
Ebitda down 8.14% at Rs 478.88 crore vs. Rs 521.27 crore (Bloomberg estimate: Rs 491.26 crore).
Ebitda margin at 30.48% vs. 33.89% (Bloomberg estimate: 31.2%).
Reported PAT is down 8.11% at Rs 338.5 crore vs. Rs 368.4 crore (Bloomberg estimate: Rs 339.52 crore).

Supreme Petrochem Q2 FY24 (YoY)

Revenue is up 3.49% at Rs 1,277.67 crore vs. Rs 1,234.58 crore.
Ebitda up 34.67% at Rs 106.27 crore vs. Rs 78.91 crore.
Ebitda margin at 8.31% vs. 6.39%
Reported PAT is up 30.51% at Rs 78.06 crore vs. Rs 59.81 crore.

Sarda Energy and Minerals Q2 FY24 (Consolidated, YoY)

Revenue is up 3.6% at Rs 1,001.36 crore vs. Rs 966.54 crore.
Ebitda down 10.92% at Rs 250.41 crore vvs.Rs 281.09 crore.
Ebitda margin at 25% vs. 29.08%
Reported PAT is down 19.69% at Rs 149.21 crore vs. Rs 185.8 crore.

Blue Dart Express Q2 FY24 (Consolidated, YoY)

Revenue is down 0.07% at Rs 1,324.48 crore vs. Rs 1,325.28 crore (Bloomberg estimate: Rs 1,360.38 crore).
Ebitda down 8.34% at Rs 222.73 crore vs. Rs 242.99 crore (Bloomberg estimate: Rs 203.78 crore).
Ebitda margin at 16.81% vs. 18.33% (Bloomberg estimate: 15%).
Reported PAT is down 21.97% at Rs 73.06 crore vs. Rs 93.64 crore (Bloomberg estimate: Rs 83.1 crore).

Great Eastern Shipping Q2 FY24 (Consolidated, YoY)

Revenue is down 15.1% at Rs 1,229.02 crore vs. Rs 1,447.45 crore.
Ebitda down 18.87% at Rs 643.37 crore vs. Rs 793 crore.
Ebitda margin at 52.34% vs. 54.78%
Reported PAT is down 22.65% at Rs 594.66 crore vs. Rs 768.83 crore.

Oberoi Realty Q2 FY24 (Consolidated, YoY)

Revenue is up 76.79% at Rs 1,217.41 crore vs. Rs 688.59 crore.
Ebitda up 105.57% at Rs 638.21 crore vs. Rs 310.45 crore.
Ebitda margin at 52.42% vs. 45.08%
Reported PAT is up 43.35% at Rs 456.76 crore vs. Rs 318.62 crore.

Route Mobile Q2 FY24 (Consolidated, QoQ)

Revenue is up 4.88% at Rs 1,014.61 crore vs. Rs 967.34 crore (Bloomberg estimate: Rs 1,054.97 crore).
EBIT is up 0.54% at Rs 106.7 crore vs. Rs 106.12 crore.
EBIT margin at 10.51% vs. 10.97%
Reported PAT is down 3.64% at Rs 88.35 crore vs. Rs 91.69 crore (Bloomberg estimate: Rs 85.8 crore).

Indostar Capital Finance Q2 FY24 (Standalone, YoY)

Total income is down 1.3% to Rs 234.27 crore vs. Rs 237.35 crore.
Reported PAT is down 72.46% at Rs 10.51 crore vs. Rs 38.17 crore.

Johnson Controls-Hitachi Air Q2 FY24 (YoY)

Revenue is down 9.12% at Rs 280.15 crore vs. Rs 308.24 crore (Bloomberg estimate: Rs 358.1 crore).
Ebitda loss at Rs 43.58 crore vs. loss of Rs 53.88 crore (Bloomberg estimate: Ebitda loss of Rs 39 crore).
Reported loss at Rs 56.4 crore vs. loss of Rs 52.9 crore (Bloomberg estimate: reported loss of Rs 44.8 crore)

Intellect Design Arena Q2 FY24 (Consolidated, YoY)

Revenue is up 17.3% at Rs 619 crore vs. Rs 527.5 crore.
Ebitda up 45.1% at Rs 121.9 crore vs. Rs 83.9 crore.
Ebitda margin at 19.7% vs. 15.9%
Reported PAT is up 53.9% at Rs 70.8 crore vs. Rs 46 crore (Bloomberg estimate: Rs 90.5 crore).

Bajaj Holdings and Investment Q2 FY24 (Consolidated, YoY)

Total income is up 19.43% at Rs 240.06 crore vs. Rs 200.99 crore.
Reported PAT is up 19.98% at Rs 1,491.16 crore vs. Rs 1,242.79 crore.

Tamilnad Mercantile Bank Q2 FY24

Reported PAT is up 4% at Rs 273.51 crore vs. Rs 262.3 crore (YoY).
NII is up 5% at Rs 532.73 crore vs. Rs 508.55 crore (YoY).
Gross NPA at 1.7% vs. 1.56% (QoQ)
Net NPA at 0.99% vs. 0.66% (QoQ)

MPS Q2 FY24 (Consolidated, QoQ)

Revenue is down 2.22% at Rs 129.57 crore vs. Rs 132.51 crore.
EBIT is down 3.72% at Rs 36 crore vs. Rs 37.39 crore.
EBIT margin at 27.78% vs. 28.21%
Reported PAT is down 0.89% at Rs 30.03 crore vs. Rs 30.3 crore.

Inox Wind Q2 FY24 (Consolidated, YoY)

Revenue is up 243.55% at Rs 384.4 crore vs. Rs 111.89 crore (Bloomberg estimate: Rs 509.3 crore).
Ebitda at Rs 82.09 crore vs. loss of Rs 30.86 crore (Bloomberg estimate: Rs 30.9 crore).
Ebitda margin at 21.35% (Bloomberg estimate: 6.1%).
Reported loss at Rs 26.84 crore vs. loss of Rs 133.81 crore (Bloomberg estimate: Reported loss of Rs 54.3 crore).

Inox Green Energy Services Q2 FY24 (Consolidated, YoY)

Revenue is down 23.31% at Rs 47.39 crore vs. Rs 61.79 crore.
Ebitda down 26.95% at Rs 12.96 crore vs. Rs 17.74 crore.
Ebitda margin at 27.34% vs. 28.71%
Reported PAT at Rs 5.76 crore vs. loss of Rs 8.21 crore

Inox Wind Energy Q2 FY24 (Consolidated, YoY)

Revenue is up 245% at Rs 371.4 crore vs. Rs 107.65 crore.
Ebitda at Rs 27.03 crore vs. loss of Rs 35.5 crore
Ebitda margin at 7.27%
Reported loss of Rs 57.14 crore vs. loss of Rs 134.46 crore

Astec Lifesciences Q2 FY24 (Consolidated, YoY)

Revenue is down 44.54% at Rs 110.78 crore vs. Rs 199.74 crore (Bloomberg estimate: Rs 123 crore).
Ebitda loss at Rs 3.45 crore vs. profit of Rs 33.26 crore (Bloomberg estimate: Rs 1.8 crore)
Reported loss at Rs 13.41 crore vs. profit of Rs 18.31 crore (Bloomberg estimate: reported loss of Rs 9.3 crore).

City Union Bank Q2 FY24 (Standalone)

NII is down 5% at Rs 538.42 crore vs. Rs 567.9 crore (YoY).
Reported PAT is up 2% at Rs 280.61 crore vs. Rs 276.45 crore (YoY) (Bloomberg estimate: Rs 226.35 crore).
Gross NPA at 4.66% vs. 4.91% (QoQ)
Net NPA at 2.34% vs. 2.51% (QoQ)

NACL Industries Q2 FY24 (Consolidated, YoY)