Quarterly Results of Nifty50 Stocks- Read Analysis
Quarterly results of Nifty50 stocks, read analysis
Quarterly Results of Nifty50 Stocks: There were fifteen Nifty50 stocks that announced second-quarter results during the week ended 31 October. We have done an analysis of those companies and how they have reacted in the market after the announcement of the quarterly results. There are also few companies that announced their quarterly earnings post-closing market on Friday and Saturday. We have given our views on how they will behave on Monday
Quarterly results of Nifty50 stocks for the week 26-30 October
Kotak Bank-
On 26 October, Kotak Mahindra Bank reported a 26.27% YoY rise in standalone net profit at Rs 2184.48 crore for the September quarter. This is compared to a profit of Rs 1724.48 crore in the last year of the same period. Net Interest Income (NII) rose 16.8% to Rs 3913 crore from Rs 3350 crore in the same period last year.
The gross NPA was 2.55% and net NPA 0.64%, the bank has not recognized any NPA since August 31 2020 as per the Supreme Court order due to pandemic. The Q2FY21 of Kotak Mahindra has beat the street’s estimate and the share price reacted very strongly after the result announcement.
Bharti Airtel-
On Tuesday, Bharti Airtel announced Q2FY21 earnings, its consolidated net loss for the September end quarter narrowed to Rs 763 crore from Rs 23405 crore a year. The company’s revenue from operations rose by 22% to Rs 25,785 crore from Rs 21131 crore in the previous year.
The company’s EBITDA margin came in at 46% with an improvement of 366 bps on a YoY basis while the EBIT margin showed an improvement of 768 bps YoY at 17.1%. Bharti Airtel’s mobile average revenue per user (ARPU) came in at Rs 162 compared with Rs 128 in the previous year. The share price of Bharti Airtel has reacted strongly after the results announcement.
Tata Motor-
On Tuesday Tata Motors posted a consolidated net loss of Rs 307.3 crore in the Q2FY21. This is as compared with a net loss of Rs 187.70 posted in the last year for the same period. The company’s total revenue from operations dropped by 18.9% to Rs 53530 crores from Rs 65431.95 crore reported in the last year.
The Q2FY21 results of Tata Motors beat street estimates. The share price of Tata Motors reacted positively after the announcement of the results but could not sustain at higher levels for a long time.
Axis Bank-
On 28 Oct Wednesday, the private lender Axis Bank reported a net profit of Rs 1682.67 crore in the Q2FY21. This is against the loss of Rs 112 crore in the same period the previous year. The bank’s total provisions and contingencies stood at Rs 4850.65 crore, up 30% on a YoY basis.
The net interest income (NII) has increased 20% on YoY to Rs 7236 crore and the bank’s gross NPA ratio was at 4.18% down 85 bps YoY and 54 bps sequentially. Post- provision, the net NPA ratio was 0.98% in Q2 against 1.23% in June end quarter of FY21 and 1.99% in the previous year.
The Q2FY21 results of Axis Bank beat street estimates and the share price was trading neutral after the announcement of the results.
Dr. Reddy’s Lab-
On Wednesday Dr. Reddy’s Lab reported its consolidated net profit fell 30.22% YoY to Rs 762.3 crore for the Q2FY21. This is compared with Rs 1092.5 crore in the same quarter previous year. The revenue for the quarter rose to Rs 4896.7 crore from Rs 4800.9 crore, a gain of 1.99% YoY.
The company’s EBITDA was down by 11% at Rs 1276.3 crore against Rs 1433.7 crore on YoY. The EBITDA margin stood at 25.9% against 29.9% on YoY. The share price reacted negatively after the announcement of quarterly results in FY21
Titan Company-
On Wednesday, Titan Company reported its standalone net profit fell 37.8 at Rs 199 crore. This is as compared to Rs 320 crore on a YoY basis. The standalone revenue was down 2.6% at Rs 4318 crore as compared to Rs 4435 crore on YoY. The company’s standalone EBITDA fell 42.7% at Rs 294 crore against Rs 513 crore on YoY. The standalone EBITDA margin stood at 6.8% against 11.6% on YoY.
The share price of the Titan company reacted negatively after the announcement of the quarterly results.
Hero Motocop-
Hero Motocorp on Wednesday reported an 8.99% increase in standalone net profited of Rs 953.45 crore in the Q2FY21. The company had reported a profit of Rs 874.80 crore in the same period last year. The revenue from operations climbed by 23.73% to Rs 9367.34 crore, from Rs7570.70 crore in the previous year.
The EBITDA margin for the July-September quarter was at 13.7% as against 3.6% in the first quarter. The company reported a strong Q2 performance, the share price got corrected after the announcement of the Q2 earnings.
L&T-
On Wednesday, Larsen & Toubro reported its consolidated net profit fell 44.73% on YoY to Rs 1410.29 for July- September quarter. This is compared with Rs 2551.67 crore in the same period the previous year. The revenue from operations for the Q2FYI dropped to Rs 31034.74 crore from Rs 35328.45 crore, a fall of 12.15% YoY.
The company has announced a dividend of Rs 18 per share. The share price reacted negatively after the announcement of the Q2FY21 earnings.
BPCL-
On Thursday BPCL reported 58.44% YoY growth in consolidated net profit to Rs 2589.52 crore for the July- September quarter. This is compared with a profit of Rs 1634.32 crore in the same period last year. A fall of 16.25% YoY in total expenditure reported to Rs 62436.90 crores in the quarter. Consolidated EBITDA increased by 77.56% You to Rs 5066 crore while margin jumped to 7.6% from 3.7% on a YoY basis.
The September quarterly results of BPCL are better than expected. The share price of BPCL reacted positively on the next day after the announcement of the Q2FY21 results.
Maruti Suzuki-
India’s biggest carmaker Maruti Suzuki on Thursday reported Q2FY21 results. The company’s net profit up by 1% to Rs 1371 crores in July- September quarter. This is as compared to the same period last year. Net sales rose 9.7% to Rs 17689.3 crore, operating profit rose by 71.7% to Rs 1167.7 crore
Overall Maruti Suzuki Q2 results missed analyst’s expectations. The share price of Maruti Suzuki reacted negatively after the announcement of the second quarterly results.
IOC-
On Friday IOC reported the July-September quarter results. The Company’s net profit came in at Rs 6227.3 crore against Rs 1910.8 on a QoQ basis. The company’s revenue increased 32.1% at Rs 85610.4 crore against Rs 64801 crores on a QoQ basis. EBITDA gained 74.3% at Rs 9607 crore against Rs 5512.3 crore on QoQ. EBITDA margin stood at 11.2% against 8.5% on a QoQ basis.
The share price of IOC gained after the announcement of the second-quarter results on Friday.
UPL-
On Friday UPL reported a 166% jump in consolidated net profit to Rs 537 crore in the July-September quarter. This is as compared to Rs 202 crore in the same period last year. The consolidated revenue from operation came at Rs 8939 crore in Q2FY21 14.5% higher than Rs7817 crore in the same period last year.
The company’s EBITDA grew 17% to Rs 1808 crore in the July-September quarter from Rs 1541 crore while the EBITDA margin remained unchanged at 20%. The share price of UPL reacted positively after the announcement of the Q2FY21 results.
IndusInd Bank-
The IndusInd bank reported a 52.7% decline in consolidated net profit at Rs 663.08 for the Q2FY21. This is compared to a net profit reported Rs 1400.96 in the same period the previous year. The total income reported by private lenders in Q2FY21 stood at Rs 8731.52 crore, down 1.65% from Rs 8877.53 crore. Bank’s provision rose 166% to Rs 1964.44 crore from 737.71 crores reported the previous year for the same period.
The Bank’s gross NPA stood at 2.21% compared to 2.19% YoY while Net NPA was 0.52% compared with 1.12% on a YoY basis. The Net Interest Income for the Q2FY21 increased to Rs 3278 crore from Rs 2909 crore on YoY.
Reliance-
Energy and Telecom giant Reliance Industries on Friday reported a 15.05% YoY drop in consolidated net profit at Rs9567 crore in Q2FY21. The company showed a strong rebound across all businesses due to a sharp recovery in domestic demand during the quarter.
Reliance Telecom sector Jio reported 12.85% QoQ and 185% YoY growth in net profit at Rs 2844 crore. Revenue from the operation increased 33%on a YoY basis at Rs 17481 crore. The average revenue per user (ARPU) increased to Rs 145.
Reliance Retail revenue increased 30% on a QoQ basis, Petrochemical revenue grew 18% QoQ, Refining revenue increased 33% QoQ whereas Oil & Gas revenue declined 30% on QoQ and Media business improved 32% on QoQ basis.
The quarterly results of Reliance came post market hours on Friday. The earnings beat analyst expectation, the share price may react positively on Monday.
ICICI Bank-
On Saturday the private lender ICICI Bank reported a multifold jump in its net profit at Rs 4251 crore for the Q2FY21. The Bank had reported a profit of Rs 655 crore in the same period last year. Bank’s Net Interest Income (NII) rose 16% to Rs 9366 crore from Rs 8077 crore in the previous year for the same quarter.
The bank’s net interest margin (NIM) for the quarter stood at 3.57% this is as compared with 3.64% in last year same period. The asset quality of the bank improved, with net NPAs falling to 1% of gross advances from 1.60% in the last year the same quarter.
The ICICI Bank’s second quarterly results beat analyst expectations. The share price of ICICI Bank may react strongly on Monday.
You may also like to read, Quarterly Results- How Nifty50 stocks reacted after Q1FY21
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