In filings dated 18th October 2023, LTIMindtree Ltd (“LTIM”), Indusind Bank Ltd (“INDB”), ICICI Lombard General Insurance Company Ltd (“ICICIL”), Bajaj Auto Ltd (“BAL”), 5paisa Capital Ltd (FPC”) announced results for quarter ending 30th September 2023.
LTIMindtree:
LTIM, the flagship IT subsidiary of Larsen & Toubro, Wednesday announced the company’s revenue for Q2 at Rs. 8,905 crore, a 2.3% QoQ and 8.2% YoY increase.
The company reported a consolidated net profit of Rs. 1162 crore during Q2 which is 0.9% QoQ increase and -2.2% YoY growth.. LTIM also announced an interim dividend of Rs. 20 per share. The record date for the same has been fixed on October 27, 2023.
LTIM shares are trading at Rs. 5390.00, up 4.5% versus Rs. 5156.90 at previous close. INDB is trading 1.6% away from its 52 week high with a market cap of Rs. 1,13,330 crore. LTIM provides information technology services and solutions in India, North America, Europe, and internationally.
Indusind Bank:
INDB has recorded Net interest income growth of 18% YoY to Rs 5,077 crore during Q2, while net interest margin remained flat at 4.29% QoQ but grew 5 bps YoY. Net profit was at Rs 2,182 crore for Q2 FY24, growing 22.09% YoY, with a fall in provisions and stable asset quality.
INDB shares are trading at Rs. 1458.45, up 2.6% versus Rs. 1420.80 at previous close. INDB is trading 1% away from its 52 week high with a market cap of Rs. 1,59,498 crore.
INDB provides various banking products and services to individuals, NRIs, business owners, corporates, and government and financial institutions.
ICICI Lombard General Insurance Company:
ICICIL has recorded Gross direct premium income of the company at Rs 6,086 crore during Q2, up 17.4% YoY. Gross premium written is up 18.3% YoY to Rs 6,272 crore in Q2FY24. Underwriting loss at Rs 146 crore for Q2 narrowed 4% from loss of Rs 152 crore YoY.
Net profit at Rs 577 crore for Q2, declining 2.2% YoY. Excluding one time impact of reversal of tax provision in Q2FY23, profit grew by 24.8% in Q2FY24. Further, the company has announced an interim dividend of Rs 5 per share and its record date is set at October 27, 2023.
ICICIL shares are trading at Rs. 1371.35, up 0.96% versus Rs. 1358.25 at previous close. ICICIL is trading 4% away from its 52 week high with a market cap of Rs. 67,387 crore. ICICIL provides various general insurance products and services in India.
Bajaj Auto:
BAL revenue from operations growth at 6.8% YoY to Rs 10,585 crore during Q2 versus Rs 9,911 crore in Q2FY23. Further, the company reported 17.5% Net Profit growth YoY at Rs 2020 crore for Q2 versus Rs 1719 crore Q2FY23. The company’s EBITDA during Q2 breached Rs 2,000 crore milestone for the first time with a growth of 21% YoY to Rs. 2,133 crore.
According to the company, the margin for bottom line is up 260 bps YoY, being driven by a better realization and a richer product mix, which more than covered the drag arising from investments in growing electric scooters.
BAL shares are trading at Rs. 5383.20, up 4.7% versus Rs. 5143.80 at previous close. BAL is trading 1% away from its 52 week high with a market cap of Rs. 1,52,322 crore. BAL develops, manufactures, and distributes automobiles in India.
5Paisa Capital:
FPC reported revenue from operations growth of 21% YoY to Rs 96 crore in Q2 and reported highest-ever profitability, with net profit growth of 77% YoY to Rs 19 crore versus Rs 10 crore in Q2FY23.
Bottom line margins expanded 400 bps to 17% in Q2FY24.
FPC shares are trading at Rs. 481.25, up 2% versus Rs. 471.90 at previous close. FPC is trading 3% away from its 52 week high with a market cap of Rs. 1,480 crore.
FPC provides an online technology platform for trading in National Stock Exchange of India Limited, BSE Limited, and MCX.
Written by Sandeep R
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