NewsEarningsIndian Markets Dip as Fed Signals Rate Cut Pause; Mixed Q2 Results from Major FirmsIndian Markets Dip as Fed Signals Rate Cut Pause; Mixed Q2 Results from Major Firms
The Indian stock market fell over 0.5% following the U.S. Federal Reserve's rate decision. Major companies reported varied Q4 results: ITC's profit grew 4% to ₹5,186 crore, Swiggy's revenue surged 54% to ₹5,561 crore despite widening losses, DLF's profit declined 15% to ₹1,180 crore, NTPC's profit dipped 4% to ₹5,067 crore, and IEX saw a 13.9% profit increase to ₹123.30 crore. In corporate actions, Bank of America invested ₹44 crore in Reliance Industries, HDFC Bank reappointed Kaizad Bharucha as Deputy MD, and Dabur launched a ₹500 crore venture fund for digital businesses.
*this image is generated using AI for illustrative purposes only.
The Indian stock market experienced a downturn of over half a percent following the U.S. Federal Reserve's indication that its latest rate cut could be the final move for 2025. This announcement weakened global sentiment, impacting Indian markets as well.
Corporate Earnings Roundup
Several major Indian companies have released their quarterly results, painting a mixed picture of the corporate landscape:
| Company | Net Profit | Revenue | YoY Change |
|---|---|---|---|
| ITC | ₹5,186.00 crore | ₹21,256.00 crore | +4% profit, -1% revenue |
| Swiggy | -₹1,092.00 crore (loss) | ₹5,561.00 crore | Loss widened, +54% revenue |
| DLF | ₹1,180.00 crore | ₹1,643.00 crore | -15% profit |
| NTPC | ₹5,067.00 crore | Not specified | -4% profit |
| IEX | ₹123.30 crore | ₹153.90 crore | +13.9% profit, +10.5% revenue |
ITC's Steady Performance
ITC reported a 4% growth in net profit to ₹5,186.00 crore, despite a slight 1% decline in revenues to ₹21,256.00 crore. This performance demonstrates the company's ability to maintain profitability even in challenging market conditions.
Swiggy's Revenue Surge Amid Widening Losses
Food delivery giant Swiggy saw its net loss increase to ₹1,092.00 crore, up from ₹626.00 crore in the previous year. However, the company's revenue grew impressively by 54% to ₹5,561.00 crore, indicating strong top-line growth despite profitability challenges.
Real Estate Sector: DLF's Profit Decline
DLF, a major player in the real estate sector, experienced a 15% decline in net profit to ₹1,180.00 crore, with revenue falling to ₹1,643.00 crore. This downturn may reflect broader challenges in the real estate market.
Energy Sector: NTPC's Slight Profit Dip
State-owned power giant NTPC reported a 4% decline in net profit to ₹5,067.00 crore. The modest decrease suggests relatively stable performance in the energy sector.
IEX's Strong Performance
The Indian Energy Exchange (IEX) showed robust growth with a 13.9% increase in profit to ₹123.30 crore and a 10.5% revenue increase to ₹153.90 crore, highlighting positive momentum in the energy trading sector.
Corporate Actions and Investments
- Bank of America (BofA) has invested in Reliance Industries Limited (RIL), purchasing a stake worth ₹44.00 crore at ₹1,475.50 per share.
- HDFC Bank's board has approved the re-appointment of Kaizad Bharucha as Deputy Managing Director for a three-year term, ensuring continuity in the bank's leadership.
- Dabur has launched 'Dabur Ventures' with a capital allocation of ₹500.00 crore, aimed at investing in digital-first businesses, signaling the company's push towards digital innovation.
These diverse corporate results and actions reflect the complex nature of India's current economic landscape, with some sectors showing resilience while others face challenges amidst global economic uncertainties.
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