Q2 results today: Infosys, Wipro, Nestle, Axis Bank among 38 companies to announce earnings on Thursday

The second quarter earnings season is underway and as many as 38 companies will announce their numbers for the July-September 2024 period today. Among them are 4 Nifty companies including Infosys, Wipro, Nestle and Axis Bank that will declare their results.

Apart from the above, Havells, Polycab, LTIMindtree, Harshil Agrotech, IGC Industries, Indian Overseas Bank, Jindal Stainless, Dhanlaxmi Bank among others will report their quarterly results.

Infosys Q2 expectations

India's second largest software exporter Infosys is likely to report healthy numbers in the second quarter, driven by ramp-up of mega-deals and continued demand improvement in the financial services segment.

Also Read: Catch all Infosys Q2 Results Live Updates Here

Net sales for the quarter is seen rising 5% year-on-year, according to an average estimate of five brokerages. Most analysts estimate constant currency (CC) revenue to improve over 3% quarter-on-quarter.

The profit after tax (PAT) during the second quarter is likely to rise 11% year-on-year, an average estimate of five brokerages revealed.

The Bengaluru-based company is expected to revise its guidance upwards for FY25 to 4-5% in constant currency terms. Earlier, the company guided for a revenue growth of 3-4% for the same period.

Wipro Q2 expectations

Tier-1 IT services company Wipro is expected to report a revenue decline at 1.1-1.7% on a year-on-year basis in the quarter ended September 30, 2024, according to estimates of five brokerages who have pegged the topline in a range between Rs 22,134 crore and Rs 22,516 crore.

Estimates on the company's net profit growth for Q2FY25 are expected in a wide range between 5.5% and 19.5%. This works out to PAT figures of Rs 2,646-3,161 crore.

Axis Bank Q2 expectations

Leading private sector lender Axis Bank is likely to report 8% year-on-year growth in its net profit for the quarter ended September 2024. The higher PAT will be driven by growth in net interest income (NII), non-interest income and lower slippages.

NII for the second quarter is seen rising 10% year-on-year, according to an average estimate of five brokerages. Slippages for the quarter are expected to rise 29% year-on-year in the reporting period, but fall 12% on a sequential basis.

The loan growth for the quarter is likely to be weak at just 2% quarter-on-quarter, but rise 11% year-on-year.

Nestle India Q2 expectations

FMCG major Nestle India is expected to see a 5-7% year-on-year growth in its revenue for the quarter ended September 2024, led by uptick in volumes along with price hikes, as per the estimates of four brokerages. The revenue could be in a range between Rs 5,282 crore and Rs 5,387 crore.

Also Read: Nestle India Q2 Results: Cons PAT falls marginally to Rs 899 crore, but beats estimates

Not accounting for exceptional loss, the net profit in the Q2FY25 could go up by 6.5-8%.

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