Nifty futures on the Singapore Exchange traded 7.5 points, or 0.04 per cent lower at 18,107, signaling that Dalal Street was headed for a flat start on Friday.
Q2 Results Today
Britannia, Cipla, Titan Company, GAIL India, InterGlobe Aviation, Aditya Birla Fashion and Retail, Escorts Kubota, Go Fashion (India), Mahindra Logistics, Marico, TVS Motor Company, and Wockhardt will release their Q2 results today.
Vodafone India’s (Vi’s) net loss widened 6.4 per cent on a year-on-year (YoY) basis at Rs 7,595 crore in the second quarter of FY23 due to an increase in finance and operating expenses. In the same period last year, the company had posted a net loss of Rs 7,132 crore.
The company’s consolidated net profit for the quarter ended September (Q2) more than doubled versus last year to Rs 461 crore, its results showed on Thursday. The company’s consolidated revenue in Q2 surged nearly threefold year-on-year (YoY) to touch Rs 38,175 crore.
The company’s consolidated net profit fell by 8.63 per cent year-on-year (YoY) to Rs 682.28 crore in the second quarter of FY23 amid weakening rural demand. The company had earned Rs 747.79 crore net profit in Q2 of FY22.
Mahindra Lifespaces Developers
The real estate and infrastructure development business of the Mahindra Group, reported a net loss of Rs 7.74 crore for the quarter ended September against a net profit of Rs 6.52 crore in the year-ago quarter.
Amara Raja Batteries
The company reported a 39 per cent year-on-year increase in consolidated profit at Rs 201.22 crore for Q2. Revenue for the quarter rose 19.3 per cent to Rs 2,700.5 crore.
The company recorded a profit of Rs 130.9 crore in Q2, down 75 per cent YoY due to an exceptional gain in the previous year. Revenue fell 8.3 per cent year-on-year to Rs 692 crore for the quarter.
The company posted a 37 per cent year-on-year increase in consolidated profit at Rs 43 crore in Q2. Its revenue came 27 per cent higher at Rs 1,576 crore.
JK Lakshmi Cement
The cement company recorded a 29 per cent year-on-year decline in consolidated profit at Rs 61.8 crore in Q2. Its revenue rose by 13.6 per cent to Rs 1,373.5 crore compared to the same period last year.
The company posted a 20 per cent year-on-year decline in profit at Rs 157 crore for Q2FY23. Revenue from operations rose 6 per cent to Rs 938 crore.
The company has bagged an international order for two commissioning service operation vessels (CSOV) from a European Client. These vessels will be used for offshore wind farm installations. The estimated project cost is around Rs 1,000 crore.
The company has approved projects for setting up four new plants and capacity enhancement of an existing plant to produce various speciality chemicals at an estimated cost of Rs 604 crore.
The company has commenced commercial production of ready to eat snacks.
The company has announced a strategic partnership with Software AG to develop joint solutions to accelerate operational excellence by modernizing applications and processes as well as moving data more easily across enterprises to unlock value.
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