Q2 Result 2024: HUL, Dr Lal PathLabs, Piramal Pharma, Heritage Foods, TVS Motor, others releasing Q2 report today – Industry News

Ajay Piramal, Chairman, Piramal Enterprises Ltd, said, “As we reflect on Q2 FY25, I am pleased with the strong momentum in our Growth business, which has significantly boosted AUM and profitability. Our strategic focus on growth along with controlled risk and operating leverage continues to yield strong results. We have made strides in digital enhancement, borrowing diversification, and ensuring robust asset quality. We are on track to reduce legacy discontinued AUM to below 10% of total AUM by March 2025, with ongoing recovery efforts strengthening our financial position.”

“Looking ahead, we remain committed to innovation and operational efficiency as we continue delivering a diverse range of financial solutions to our customers. I extend my sincere gratitude to our stakeholders for their continued support. We are focused on the steadfast execution of our identified strategy. This should position us well to build a resilient organisation for long-term success,” he added.

Nandini Piramal, Chairperson, Piramal Pharma Limited, said, “We continue our momentum of delivering healthy revenue growth accompanied by YoY EBITDA margin expansion. This has been primarily driven by consistent growth in our CDMO business which has witnessed a good pick-up in innovation related work and on-patent commercial revenues. To sustain this growth momentum and to capitalize on rising demand for sterile fill-finish capabilities, we have announced a US$80Mn expansion plan at our Lexington facility which is expected to get complete by end FY27. In our CHG business, we are witnessing steady volume growth in Inhalation Anesthesia products in the US and Emerging Markets. In our ICH business, we continue to see a robust growth in our power brands and e-commerce sales.”

“Over the long term, we remain committed to achieving our financial goals of US$2 bn revenue with 25% EBITDA margin and 1x net debt / EBITDA by FY30,” she added.

Rajesh Magow, Group Chief Executive Officer, MakeMyTrip, said, “We are pleased to have achieved sustained growth in a seasonally slow quarter. Our unwavering focus on innovation, powered by advanced technology to deliver a differentiated customer experience, has been a key driver of this progress. We continue to be positive about the long-term outlook of India’s travel and tourism market and stay committed to further accelerating efforts to expand our supply partnerships and deepen engagement with our customers.”

Rohit Jawa, CEO and Managing Director, HUL, said, “In the September quarter, FMCG demand witnessed moderating growth in Urban markets while Rural continued to recover gradually. In this context, we delivered a competitive and profitable performance. We continued to execute on our strategic priorities of transforming our portfolio whilst generating healthy EBITDA margin and cash flows, providing attractive returns to our shareholders. We remain watchful of gradual recovery in consumer demand while creating a sustained competitive advantage through our business fundamentals: investing behind our aspirational brands, scaling market-making innovations and maintaining operational rigor.”

HUL board declared a total interim dividend of Rs 29 per equity share of face value of Re 1 each (which includes a regular interim dividend of Rs 19 and special dividend of Rs 10 per equity share) for the financial year ending 31st March, 2025. “As intimated vide our letter dated 10th October, 2024, the record date for the purpose of determining the entitlement of the shareholders for the interim dividend has been fixed as Wednesday, 6th November, 2024, and dividend will be paid to the shareholders on 21st November, 2024,” it said in a regulatory filing.

Sibaji Biswas, Executive Director and Chief Financial Officer, Syngene International Limited, said, “With improving sequential revenues, our operating EBITDA margin came in at 27% for the quarter compared to 22% in the first quarter and broadly within range year-on-year. With recent investments in the research and CDMO businesses, we are in a good position to leverage opportunities to drive medium to long-term growth. The Company maintains a robust balance sheet with strong net cash position, enabling us to invest in strategic areas including digitization, commercial capabilities and new technology to support growth.”

Syngene International Ltd on Wednesday reported a profit decline of 8.9 per cent during the second quarter of FY25 at Rs 106.10 crore in comparison to Rs 116.50 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 891.00 crore, down 2.1 per cent as against Rs 910.10 crore during the same period of previous financial year. The company EBITDA stood at Rs 245 crore.

“We expect to remain on track to deliver within our guidance range for the full year,” the company said.

The company board declared the second interim dividend of Rs 6 per equity share (at 60% on a face value of Rs 10 each) for the financial year 2024-25. “The record date for the purpose of payment of 2nd Interim Dividend shall be November 5, 2024. The 2nd Interim Dividend will be credited/ dispatched within 30 days of its declaration,” it said in a regulatory filing.

The stock of TVS Motor closed 3.18% lower at Rs 2,577.95. It plunged 6.6% to an intra-day low of Rs 2,485.90 as soon as the company released its second quarter’s results.

TVS Motor Company Ltd on Wednesday released its fiscal second quarter earnings with consolidated profit growth of 45.1 per cent at Rs 560.49 crore in comparison to Rs 386.34 crore during the corresponding quarter of FY24, missing estimates. It posted revenue from operations at Rs 11,301.68 crore, up 13.8 per cent as against Rs 9,932.82 crore during the same period of previous financial year.

On a standalone basis, TVC Motor posted a profit of Rs 662.62 crore. The company recorded its highest ever operating EBITDA of Rs 1,080 crore, registering a growth of 20 per cent for the quarter ended September 2024 as against EBITDA of Rs 900 crore in second quarter of 2023-24.

SBI Life Insurance Company Ltd on Wednesday reported a profit growth of 39.3 per cent for the second quarter of FY25 at Rs 529.42 crore in comparison to Rs 380.19 crore during the corresponding quarter of FY24. Profit after tax for H1FY25 stood at Rs 1050.00 crore, up 38 per cent YoY. VoNB increased by 2 per cent to Rs 2420.00 crore for H1FY25 and VoNB margin stood at 26.8 per cent in H1.

SBI Life posted 13 per cent growth in Individual New Business Premium at Rs 11.49 thousand crore in H1. Protection New Business Premium stood at Rs 1720.00 crore in H1.

The company’s net worth increased by 16 per cent from Rs 13.97 thousand crore as on September 30, 2023 to Rs 16.26 thousand crore as on September 30, 2024.

Bajaj Finance Limited (BFL): Net total income for Q2FY25 increased by 24 per cent to Rs 10,946 crore against Rs 8,847 crore in Q2FY24. Profit after tax for Q2FY25 increased by 13 per cent to Rs 4,000 crore vs Rs 3,551 crore in Q2FY24.

Bajaj Allianz General Insurance Company Limited (BAGIC): Gross written premium for Q2FY25 decreased by 20 per cent to Rs 5,871 crore vs Rs 7,298 crore in Q2FY24 due to spill over of government health business to October. Excluding tender-driven crop and government health insurance premium, BAGIC’s gross written premium increased by 11 per cent to Rs 4,157 crore. Net earned premium increased by 18 per cent YoY to Rs 2,660 crore for Q2FY25. Profit after tax for Q2FY25 stood at Rs 494 crore as against Rs 468 crore in Q2FY24, up 6 per cent YoY.

Bajaj Allianz Life Insurance Company Limited (BALIC): New business premium for Q2FY25 increased by 14 per cent to Rs 3,202 crore vs Rs 2,821 crore in Q2FY24. Renewal premium for the quarter stood at Rs 3,342 crore, up 33 per cent YoY. Consequently, gross written premium for Q2FY25 increased by 23 per cent to Rs 6,544 crore. Meanwhile, profit after tax during Q2 reduced to Rs 148 crore as against Rs 193 crore in Q2FY24 due to new business strain, higher expense overruns and change in product mix.

The company board also approved the raising of funds of upto Rs 2880 crore in one or more tranches, by issue of equity shares and/or any other instruments or eligible securities representing either equity shares and/or convertible securities linked to equity shares or through any other permissible mode or a combination thereof, by way qualified institutions placement (QIP).

Kishor Patil, Co-founder, CEO and MD, KPIT, said,” We are happy to have delivered yet another quarter of well-balanced growth. The Mobility Industry, specifically the Automotive sub vertical, has been under pressure to keep up with the changing regulations, reduce cost of vehicles and meet demands of the ever-changing consumer preferences in recent times. We continue to prioritize investments in technology and markets ahead of demand to help our T25 clients stay on the cutting edge of technology and competitiveness, basis which we reiterate our revenue growth and profitability outlook for the full year.”

Sapnesh Lalla, CEO and Executive Director, NIIT MTS, said, “Our Q2 FY25 performance reflects strong customer trust and enduring partnerships. Despite tighter industry budgets, we continued with industry-leading growth, customer addition and retention. The positive reception to our AI-driven solutions reinforces our leadership in this space. Our work continues to receive industry recognition such as 63 Brandon Hall awards. These awards are testament to the pioneering work we do for our customers.”