Q2 results today: Titan, Dr Reddy's among 63 companies to announce earnings on Tuesday

The second quarter earnings season is underway and as many as 63 companies will announce their quarterly numbers for the July-September 2024 period today. Key results to watch out for include that of Dr Reddy's, Titan, Mankind Pharma, GAIL, Mazagon Dock, SJVN and PB Fintech.

Apart from the above, Balmer Lawrie, Blue Chip India, CCL Products, Ceigall India, Oil India, Revati Organics, Wonderla Holidays, SJVN, Saregama India, Ritesh International and a few others will announce their quarterly results.

Titan Q2 expectations

Consumer Discretionary major Titan is expected to see a decline in profitability in the second quarter mainly on account of inventory loss due to customs duty cut in the reporting period.

Net profit for the quarter is likely to fall up to 27% year-on-year in the July-September 2024 period, according to an average estimate of four brokerages. Meanwhile, net sales are seen rising 3% year-on-year in the same period, the estimates revealed.

Analysts are building in a 25% growth in core Jewellery segment, driven by both volume and price as even after the custom duty reduction, the increase in base gold price was about 28% YoY on an average for the quarter.

Dr Reddy's Q2 expectations

Durg maker Dr Reddy's Labs is likely to report healthy double-digit growth in sales in the second quarter, mainly driven by strong domestic and US sales. However, the bottom line is seen declining in the reporting period.

Net profit for the July-September 2024 period may fall 3% year-on-year, according to an average estimate of four brokerages. Meanwhile, sales are likely to grow 13% year-on-year, the estimates revealed.

Analysts are building US revenue at $419 million, driven by strong gRevlimid contribution. The India business may rise 19% YoY driven by organic 11% YoY growth and Rs 100 crore contribution of the vaccine business.

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