Q2FY25 Earnings: Reliance Industries, HDFC Bank, Bajaj Auto, Axis Bank among others to announce Q2 results this week

Q2FY25 Earnings: Reliance Industries, HDFC Bank, Bajaj Auto, Axis Bank among others to announce Q2 results this week

As we enter into the second quarter of financial year 2025, or Q2FY25, the earning season drives in with tremendous vigor and noise from a few of the biggest and influential companies in India. Investors and market watchers eagerly await the performance updates from companies such as Reliance Industries, HDFC Bank, Bajaj Auto, and Axis Bank. These quarterly earnings reports will unveil the health of the respective firms with respect to earnings and cash flows for the quarter ending September 2024, showing how each firm has faced various economic troubles: inflationary pressures, interest rate hikes, and volatile market conditions worldwide.

This blog post provides an overview of the big earnings announcements to be reported this week, insights from the companies, and the important development that can mold the sentiment for the days ahead.

Q2FY25 Earnings Announcements

Q2FY25 Earnings Announcements Schedule

Date Company Highlights
October 14 Reliance Industries Q1FY25 PAT ₹17,448 crore (-4% YoY); Revenue ₹2,57,823 crore (+11.5% YoY); Bonus issue 1:1
HCL Tech Q1FY25 Revenue ₹28,057 crore (+6.7% YoY); Net Profit ₹4,257 crore (+20.46% YoY); Acquired Zeena SAS
Alok Industries Results expected
Orient Hotels Results expected
October 15 HDFC Life Q1FY25 AUM ₹3,10,244 crore (+22% YoY); PAT ₹478 crore (+15% YoY); ₹2,000 crore fundraising plan
KEI Industries Q1FY25 Revenue ₹2,078.34 crore (+16.05% YoY); Lower margins
PVR INOX Q1FY25 Revenue ₹1,219.4 crore (-8.3% YoY); Net Loss ₹178.70 crore
October 16 Bajaj Auto Q1FY25 Revenue ₹12,267.39 crore (+15.05% YoY); Net Profit ₹1,941.79 crore (+18.1% YoY); Launched CNG motorcycle
L&T Technologies Q1FY25 Revenue ₹2,524.1 crore (+7.45% YoY); Net Profit (+0.8% YoY); Partnership with Thales
October 17 Axis Bank Q1FY25 NII +12% YoY; Net Profit ₹6,035 crore (+4% YoY)
Infosys Q1FY25 Revenue ₹40,153 crore (+4.31% YoY); Net Profit ₹6,368 crore (+7.12% YoY); Expanded Microsoft partnership
Nestle India Q1FY25 Revenue ₹4,853 crore (+3.64% YoY); Net Profit ₹746.60 crore
October 18 Jindal Saw Q1FY25 Revenue +12.2% YoY; Net profit down sequentially
Mastek Q1FY25 Revenue +12.3% YoY; Net Profit +2.01% YoY; Strategic partnership with Onyx Health
October 19 HDFC Bank Q1FY25 Revenue ₹1,16,996.49 crore (+91.73% YoY); Net Profit ₹11,951.52 crore (+33.18% YoY); Merger with HDFC Ltd.
Tech Mahindra Q1FY25 Revenue decline; Net Profit +22.96% YoY; Merger of Zen3 Infosolutions

Reliance Industries, HCL Tech, Alok Industries and Orient Hotels October 14

Reliance Industries leads the pack, India’s largest corporate play bet, that has a massive portfolio in terms of energy, retail, and telecom. Reliance registered a consolidated PAT of ₹17,448 crore for Q1FY25, down 4% year-over-year from the previous quarter but increased 11.5% year-over-year to ₹2,57,823 crore in revenue. One of the landmark developments at Reliance could be seen in the quarter as the company granted approval for the 1:1 bonus issue, the biggest bonus issue in India’s equity market, to shore up investor confidence. The company, however, is staring at regulatory issues in the form of a tax penalty ₹6.3 crore by Deputy Commissioner of State Tax, Jamnagar. Analysts will be keenly waiting for the retail and telecom segments of Reliance to see how those balance energy sector volatility.

Among major players that would declare results is HCL Tech, whose results are scheduled to be declared on October 14. HCL Tech’s revenues for Q1FY25 have been seen with an upward trajectory of 6.7% YoY to ₹28,057 crore. Net profit and net profit margins both were up 20.46% YoY and 151.8% YoY, respectively, at ₹4,257 crore. The acquisition of Paris-based Zeena SAS had recently been concluded, and this cloud and software services business will be built upon. Investors will be interested to know if the company is on the same path especially with the increasing demand in the global landscape for digital solutions.

October 15: HDFC Life, KEI Industries, HDFC AMC and PVR INOX

On Oct 15 HDFC Life, one of the largest insurance companies in India, will announce Q2FY25 results. The company’s AUM growth continued at 22% YoY in Q1FY25 to ₹3,10,244 crore. PAT grew 15% YoY to ₹478 crore. New business premiums also grew by 9%, showing good demand for life insurance. The board recently approved a plan to raise up to ₹2,000 crore through non-convertible debt. Funds so raised have been targeted for augmenting the company’s operations. Q2 results will reveal if the company has maintained its upward trajectory while facing increased competition in the insurance space.

KEI Industries, one of the leading players in the electrical cable space in India, has started production at the newly set unit established at Rajasthan. While it recorded a 16.05% YoY revenue growth to ₹2,078.34 cr in Q1FY25, profit margins did sequentially decline. KEI’s Q2 would, therefore, be watched in terms of new production facilities impacting its bottom line.

The multiplex chain PVR INOX is headed for tricky numbers with muted box office performance. In Q1FY25, PVR INOX’s revenue declined 8.3% YoY at ₹1,219.4 crore, and the net losses deepened to ₹178.70 crore. New cinema screens will help a bit, but how the company translates it into an increase in footfalls is important, especially in times of changed consumer behavior.

October 16: Bajaj Auto, L&T Technologies, Mphasis, and Crisil

India’s leading two-wheeler manufacture, Bajaj Auto, has sent shock waves in the world market by unveiling the world’s first CNG motorcycle, Bajaj Freedom. The company reported revenue of ₹12,267.39 crore in Q1FY25 that increased by 15.05% Year over Year. Net profit rose to ₹1,941.79 crore with an increase of 18.1% YoY in Q1. Investors would like to know if these new innovative offerings along with the global expansion helped the firm improve in Q2 with more rising input costs and stiff competition.

Long with L&T Technologies Services (LTTS), Thales will develop new business models for innovation. Here, LTTS reported only 7.45% YoY revenue growth in Q1FY25 at ₹2,524.1 crore. Net profit only increased by 0.8%. The market review will track the impact of this synergy on LTTS’ Q2FY25 performance.

October 17: Axis Bank, Infosys, Nestle India, Polycab India

Axis Bank will declare its Q2FY25 results on 17 October following a 12% YoY increase in Net Interest Income (NII) with 4% increase in net profit at ₹6,035 crore in Q1FY25. Investors would be keen to note whether loan growth and asset quality have picked up considering the Indian monetary policy is progressively becoming tighter.

Infosys is one of the top IT services companies in India and has been surfing the digital wave, with it having extended strategic collaboration with Microsoft to lead customer adoption of the Microsoft Cloud and generative AI. In Q1FY25, Infosys saw a 4.31% YoY growth in revenue at ₹40,153 crore, while net profit grew 7.12% at ₹6,368 crore. Analysts are keenly looking to see how Infosys would generate AI trends and cloud demand in Q2FY25.

Another key player in the FMCG segment of India, Nestle India is to announce its Q2FY25 earnings on the same day. Nestle reported a 3.64% YoY growth in revenues to ₹4,853 crore with a net profit of ₹746.60 crore for Q1FY25. Moving forward, a joint venture in the health and wellness space with Dr. Reddy’s Laboratories is one of the growth drivers.

Oct 18: Jindal Saw, Mastek, Tejas Network

Jindal Saw, the largest manufacturer of pipes, reported a 12.2 percent YoY increase in revenue in Q1FY25, but net profit declined sequentially. Near-term T2Q is awaited from this company. Investors would like to know how it could face volatile demand and rising costs of raw materials.

Mastek has been attempting to increase its penetration in the healthcare sector, and to this effect, strategically partnered recently with Onyx Health. Its revenue went up 12.3% YoY and net profit by 2.01% in Q1FY25. Its Q2 results would be interesting in that context.

October 19: HDFC Bank, Kotak Bank, Tech Mahindra

The last of the major private banks to report will be HDFC Bank, the country’s largest private lender, on October 19. Revenue during the first quarter of FY25 rose a significant 91.73% YoY to ₹1,16,996.49 crore, while net profit growth was somewhat soft at 33.18%. The merger with HDFC Ltd. is likely to bode well for the bank going forward, and one will watch its Q2 earnings more closely for signs of a post-merger integration success.

Again, it is not much time since another Indian Tech major, Tech Mahindra, approved the consolidation of its U.S.-based subsidiary, Zen3 Infosolutions with its parent, which it believes will help it cut unnecessary costs and thereby streamline operations. In Q1FY25, the company saw YoY revenue decline but net profit increasing by 22.96% on the back of cost optimization measures.

The next earnings announcements from major players are going to be important indicators on how various sectors of the Indian economy have performed. While extending from technology and banking to FMCG and automotive, results will be necessary to gauge market sentiment and investment strategy for the balance part of FY25. Investors must keep a close watch as these reports come in with the progression of the earnings season.
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