Q2 Results today: Bajaj Auto, Wipro, IndusInd Bank, among 32 firms to post earnings

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₹1,738 crore from ₹1,530 crore in the same quarter last year, as per average estimates of analysts. The company’s total sales volume during the quarter declined 8.4% YoY to 10,53,953 units. Two-wheeler sales fell 13.5% to 8,81,583 units, while commercial vehicle (CV) sales jumped 30.6% YoY to 1,72,370 units in the September quarter.

The auto major’s revenue for the quarter is expected to grow by 5.33% to ₹10,747 crore from ₹10,202.8 crore in the corresponding quarter of last fiscal. Analysts expect earnings before interest, tax, depreciation and amortization (EBITDA), or operating profit, of Bajaj Auto to increase by 19.5% to ₹2,102 crore from ₹1,758.8 crore in the year-ago quarter led by price hikes and lower input costs. EBITDA margin is likely to expand by 220 basis points (bps) to 19.4% from 17.2%, YoY.

IndusInd Bank is likely to announce healthy Q2FY24 earnings with stable margin and asset quality and a healthy year-on-year (YoY) growth in revenue and profit after tax (PAT) numbers. BOB Capital Markets (BOBCAPS) expects IndusInd Bank's PAT to grow 23.5 per cent YoY and 5 per cent QoQ despite a higher base. BOBCAPS expects strong loan growth of 21 per cent YoY driven by both retail and wholesale segments.

It said the net interest margin (NIM) forecast of IndusInd Bank may increase 6bps sequentially due to a rise in the share of high-yielding assets, specifically the vehicle and MFI portfolios. PPOP (pre-provision operating profit) is likely to rise 5 per cent QoQ due to strong business growth. Credit cost is expected to remain elevated.

Asset quality set to remain stable QoQ with PCR (provisioning coverage ratio) at 71 per cent, BOBCAPS said. (Exciting news! Mint is now on WhatsApp Channels. Subscribe today by