Q2 results today: HUL, ITC to Nestle India — 32 companies to declare earnings on Thursday

Q2 results today: ITC and Nestle India expected to report strong Q2 results.

Today's Q2 results: Today, 32 listed companies—among them HUL, ITC, Nestle India, UltraTech Cement, Havells India, MphasiS, Metro Brands, Coforge, Voltas, Cyient, PVR INOX, Equitas Small Finance Bank, and others—will release their Q2 2023 results.

Q2 results 2023: Indian corporations reported solid quarterly results in the January to March 2023 quarter, despite rumors of a global slump. After a stronger-than-expected rebound in the Indian economy, the performance increased much more in the April–June 2023 quarter. In actuality, the Indian economy has been able to contain inflation all year long, which is anticipated to support the country's industrial and other demand.

Stock market investors are extremely watchful of the Q2FY24 results season, as these performances are likely to improve further following a significant rise in mutual fund SIP investments by Indian millennials and an improvement in the global economy, particularly the US economy.

There is stock market news for these investors and market watchers. Hindustan Unilever Ltd. (HUL), ITC, Nestle India, UltraTech Cement, Havells India, MphasiS, Metro Brands, Coforge, Voltas, Cyient, PVR INOX, Equitas Small Finance Bank, and other 32 listed businesses will all be releasing their Q2 2023 results today.

HUL Q2 preview

Annierization of price hikes, coupled with postponed festivities and price reductions, are likely to contribute to the Indian GMCG major's moderate revenue growth in the July–September 2023 quarter. In the same quarter the previous fiscal year, HUL had recorded a 6% increase in revenue. HUL is anticipated to report better margins and EBIDTA in the second quarter of 2023, nevertheless.

For the quarter ending June 30, 2023, an Indian FMCG business reported a standalone net profit of ₹2,472 crores in Q1FY24, an 8% increase from ₹2,289 crores in the same time the previous year. Standalone sales have increased by 7% throughout the quarter to ₹14,931 crores total. Compared to a consolidated net profit of ₹2,391 crore in the same quarter last fiscal year, profit after tax increased 7% to ₹2,556 crore in the first quarter that concluded on June 30, 2023.

   ITC Q2 preview 

ITC is anticipated to release impressive Q2 earnings for the fiscal year 2023–24 due to increased cigarette sales, rising GMCG product prices, and robust demand in its hospitality sector. It is anticipated that the company's net profit, margins, and EBIDTA will all show significant YoY growth.

ITC recorded a 17.5% increase in standalone net profit in Q1 2023, coming in at ₹4,902 crore as opposed to ₹4,169.38 crore in the same period the previous year. ITC's cigarette division had a 13% increase in revenue to ₹7,465.27 crore, while the company's hotel and fast-moving consumer goods (FMCG) divisions may have contributed to the total gain during the quarter.

Nestle India July to September 2023 results preview

Among the FMCG businesses they cover, IIFL Securities analysts anticipate Nestle India to have one of the strongest sales growth rates. A healthy increase in price and volume might propel a 13.5% increase in revenue over the same period last year. While the beverage and confectionary portfolios' margins may be impacted to some extent by increased milk and coffee costs, the company's total EBITDA growth is anticipated to continue to be robust. Increases in the costs of milk, coffee, and infant feeding will be a major plus.

Nestle India recorded a net profit of ₹698.3 crore for the quarter ending in June 2023, up 35.6% from ₹515 crore in the same period the previous year. The quarter ran from April to June 2023. In Q2CY24, the company's revenue increased by 15.4% YoY to ₹4,658.5 crore from ₹4,036.6 crore. The FMCG major's gain in domestic sales was 14.6%.