Q2 Results LIVE Updates | DB Corp net profit up 13%; IOB asset quality improves

Good surprise on topline growth

12-month EPS is seen moving higher

All segments see double-digit volume-led growth

Previously flagged this as a tough year

Content is performing well with a strong release pipeline

YouTube is growing, though gradually

20% growth looks achievable

Meta and Spotify are performing well, and several songs are doing nicely too

GST cut will boost ad spends on consumer products, benefitting our business

Margin of 70%+ are sustainable

Film releases are beyond our control, planning fortnightly non-film music releases

Industry size is ₹3,000–4,000 crore, with potential to reach ₹10,000 crore

Expect to return to 30%+ growth

Nestle India Ltd. reported volume growth in high-single digits during the September quarter, well above the CNBC-TV18 poll expectation of growth between 1% to 2%.

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Net Profit up 13.2% At Rs 93.4 Cr Vs Rs 82.5 Cr (YoY)

Revenue up 10% At Rs 614.4 Cr Vs Rs 559 Cr (YoY)

EBITDA up 14.2% At Rs 138 Cr Vs Rs 120.8 Cr (YoY)

Margin At 22.5% Vs 21.6% (YoY)

The Net Interest Income (NII) or core income earned by the bank increased by 21% from the same quarter last year to ₹3,059 crore. NII in the base quarter stood at ₹2,537 crore.

Net profit for the period stood at ₹1,226 crore, which is a growth of 58% from the year-ago quarter’s profit of ₹77 crore.

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Rahul Joshi, MD, Network18 To CNBC-TV18:

First 2 Quarters Of This Years Have Been Challenging

Overall Demand Has Been Weak For Some Time Due To Various Factors

Both Ad Inventory And Advertiser Counts Have Been Low

There Was Some Improvement In Ads On A QoQ Basis

Our Leadership Positions Across Markets Helped Us Perform Better Than Genre

In Markets Where We Have Gained Share, Have Been Able To Push The Pricing Up

Digital Is Increasingly Becoming More Important For Brands

Influencer/Creator Ecosystem Is A Big Part Of Digital

Creator Economy Set To Cross `40,000 Cr Over The Next 5 Years In India

Creator18 Is Our Foot In The Door In This Fast-growing Pie

Most Of The Brands Today Want Influencer Marketing As Part Of Their Marketing Mix

Already Working With >1,000 Influencers With A Cumulative Social Reach Of 25 Cr

Seeing Some Green Shoots, Too Early To Celebrate Though

Normally Q3, Q4 Are The Big Quarters For Us

Hopeful Of Delivering Growth Over Last Year Numbers

Clients Are Generally Looking To Extract Better Value For Their Spends

Our Focus Is On Providing Brand Solutions Across TV, Digital, Ground Events, Even Social Media

Advertisers Are Increasingly Allocating Higher Proportion Of Spends On Digital

TV Will Continue To Form A Meaningful Part Of Advertising Mix

Firstpost Is One Of The Fastest Growing News Brands Globally

Firstpost Established Itself As Voice Of Affluent, Premium Audience In India On Global Affairs

For Firstpost Global, The Idea Now Is To Scale It Into A Truly Global Brand

FP’s YouTube Viewership Is Already Much Higher Than Some Of The Most Well-known Brands

We Already Have Content From American And African Markets For Firstpost

Firstpost Is Looking At Adding New Geographies Like UK, Middle East, Singapore

FP Will Also Venture Into News Adjacent Categories Like Culture, Lifestyle, Food

HDFC Is A Marquee Partnership For Us

HDFC Bank Partnership Will Give A Strong Boost To Our Fintech Business

Looking To Be A Significant Player In Digital Lending Partnership Space Over Next Few Years

Unlike Most Of Our Peers, We Don’t Spend A Lot Of Money On Acquiring Customers

News As A Category Is Going To Stay Relevant As It Is A Basic Necessity For Consumers

Sector Will Be Hyper Competitive But Brands That Consumers Trust Will Always Attract Audience

We Have To Innovate To Make It Easier For Consumers To Access Our Content

Digital Will Continue To Gain In Terms Of Audience Mind Share

New Categories Like Q-com & e-Comm Will Compete For Ad Dollars

We Are Diversifying Into Subscription-based Products Like MC Pro & Super Pro

We Are Building Fintech Vertical, Building A Position In The Content Creator Ecosystem

Will Also Have To Adapt To The Technological Changes That Are Taking Place

We Will Have To Be Agile To Compete Effectively In This Evolving Landscape

Regional Has Been A Focus Area For Us & Maharsashtra Is One Of The Biggest Regional Mkts

News18 Lokmat Is A Well-entrenched Brand In The Market

News18 Lokmat Saw A Strong Growth In Rev, 60%+ Over 2 Yrs & Can Grow Further

Net Profit up 58% At Rs 1,226 Cr Vs Rs 777 Cr (YoY)

NII up 21% At Rs 3,059 Cr Vs Rs 2,538 Cr (YoY)

Gross NPA At 1.83% Vs 1.97% (QoQ)

Net NPA At 0.28% Vs 0.32% (QoQ)

Sources Say Domestic Volume Growth In High Single-digits Vs CNBC-TV18 Poll Of 1-2%

Domestic Sales Grew At A Double-digit Rate, Led By Volume Growth

2 Out Of 4 Product Groups Delivered Strong Volume Led Double-digit Growth

Confectionery Product Group Grew At A Strong Double-digit Rate

KitKat Was The Largest Growth Driver And Continued To Gain Market Share

Munch & Milkybar Also Grew At High Double-digit Rates

Nescafe Continued To Lead The Coffee Category, Gaining Market Share

Milk Prices Are Expected To Soften After The Festive Season

Coffee Prices Are Anticipated To Stabilise & May Decrease

Nestle India shares witnessed a sharp surge post earnings.

The stock is currently up 3.7%.

Net Profit At Rs 753 Cr Vs CNBC-TV18 Poll Of Rs 710 Cr

Revenue At Rs 5,644 Cr Vs CNBC-TV18 Poll Of Rs 5,285 Cr

EBITDA At Rs 1,237 Cr Vs CNBC-TV18 Poll Of Rs 1,170 Cr

Margin At 21.9% Vs CNBC-TV18 Poll Of 22.1%

Net Profit down 23.7% At Rs 753 Cr Vs Rs 986.3 Cr (YoY)

Revenue up 10.6% At Rs 5,644 Cr Vs Rs 5,104 Cr (YoY)

EBITDA up 6% At Rs 1,237 Cr Vs Rs 1,167.7 Cr (YoY)

Margin At 21.9% Vs 22.9% (YoY)

Jefferies on HDB Fin

Buy rating, target price at Rs 900

Q2 PAT was Rs5.8bn (-2% YoY), 2% miss vs. our est. as miss in lending PAT (5% miss) due higher provn was offset by higher BPO PBT.

AUM growth moderated to 13% YoY, but NIM surprised positively (20bps QoQ).

AQ slipped QoQ mostly due to higher stress in CV portfolio.

Initial trends in consumer, autos in Oct has been positive per mgmt.

Growth & AQ trends should improve in 2H led by GST cut & normalization in activity levels

L&T Fin Says In Concall:

Don’t Require Any Utilisation Of Macro-prudential Provisions Going Ahead

Expect Credit Cost To Trend Lower In The Medium Term

Credit Costs Have Begun To Decline, Expected To Normalise By H2FY26

HSBC on HDFC AMC:

Hold rating, target price at Rs 4,920

Largely in-line 2QFY26 operating performance; higher treasury gains, tax write-back lead to PAT beat vs HSBCe

Aided by banca and digital channels, it saw healthy traction in SIP flows, though traction appears weak in non-SIP flows

Buoyant markets, AUM market share gains key catalysts

GS on HDFC Life:

Buy rating, target price at Rs 865:

An inline 2QFY26 with VNB up 8% yoy largely tracking topline growth (+9% yoy).

Growth was driven by Par products that more than doubled (yoy) on back of new launch momentum in 1HFY26; ULIPs grew +42% yoy (+23% vs. GSe) on improving equity market sentiment. VNB margins remained stable qoq at c.24% as better product mix (higher protection, par as well as higher sum assured ULIPs) offset the impact of surrender regulations, GST impact (90bps impact for Q2) as well as higher fixed cost investments.

DAM Cap on Axis Bank

Buy rating, target price at Rs 1,370

Axis Bank has proactively strengthened its franchise and tightened balance sheet risks, both self-initiated and regulatory-driven.

Franchise improvements are expected to reflect from FY27E, with loan growth gaining traction, crucial for earnings momentum and gradual ROA improvement.

Re-rating above 1.5-1.6x valuation, a sustained ROA above 1.8% is needed

The company reported a profit after two consecutive quarters of losses, marking a notable turnaround.

Quick Heal also returned to double-digit EBITDA margins for the first time in five quarters, underscoring operational improvements.

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Shares of Eternal Ltd. parent company of food delivery aggregator Zomato and quick commerce player Blinkit, are trading at record high levels ahead of its results that will be reported on Thursday, October 16.

A CNBC-TV18 poll is expecting Eternal’s net profit to decline by 21% from last year to 139 crore, while its revenue is likely to grow by 66% on a year-on-year basis to ₹7,963 crore.

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Infosys shares are down 0.6% at the moment.

The company is set to report its second quarter earnings today.

Click here for LIVE Updates on Infosys Q2 results

South Indian Bank shares are currently up 1.8%.

The lender is set to report its second quarter earnings today.

Vikram Solar shares are currently down 1.1%.

The company is set to report its earnings today;

Anil Gupta, CMD, KEI Industries Q2, On CNBC-TV18

Exports Contributed 17.5% Of Revenue In Q2

Aiming To Maintain 18-19% Export Revenue Share In FY26

Total Volume Growth At 15% In Q2

Maintain Guidance For Wires & Cables Revenue Growth Of 20%

Expect H2 Performance To Be Strong, See Good Demand In Domestic & Export Mkts

Phase 1 Commissioning Delayed To Nov Instead Of Sep 2025

Plant Commissioning Delayed By 3 Months, Expected To Be Fully Operational By Mar 2027

Vibha Padalkar , MD & CEO , HDFC Life On CNBC-TV18 Says:

We Did See Market Share Expansion In Q2 As Well As In H1

Despite External Turbulence, There Were No Negative Surprises

FY26 Growth Will Be In The Early Teens, Outpacing The Market

Had A Fairly Good Quarter, With 31% Growth In H1 Last Year

Working On Improving ULIP Profitability

Manoj Kumar Dubey, Chairman & MD, IRFC Q2 On CNBC-TV18:

Focusing On Growing PAT In Double Digits

Can Exceed FY26 Sanction Guidance Of `60,000 Cr

Have Already Sanctioned Projects Worth `45,000 Cr In H1FY26

`30,000 Cr Disbursement Target Is Good, Sure Of Crossing That As Well

NIM Will Improve Every Quarter, Target Is To Maintain Yield In Double Digits

No Orders Received Yet For Funding Indian Railways, But We Will Support Any Future Funding Needs

We Face Zero Risk Of Pre-payments, Ensuring Confidence In Steady PAT Growth

Punjab and Sind Bank shares are currently up nearly 1.8%.

The lender is set to report its September quarter results today.

Angel One shares are up 2.6% at the moment.

Brokerage firm Angel One Ltd on Wednesday reported a 50% year-on-year drop in net profit for the September quarter, as declining revenue and narrowing margins weighed on performance amid softer retail trading volumes.

Net profit for the quarter fell to ₹212 crore, down from ₹423 crore in the same period a year earlier.

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Shares of HDB Financial Services Ltd., the non-bank lending arm of India’s largest private lender HDFC Bank Ltd., opened lower on Thursday, October 16, slipping below their IPO price after the NBFC reported a mixed performance in its second-quarter earnings.

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Shares of Mangalore Refinery and Petrochemicals Ltd. (MRPL), the oil refiner jointly owned by Oil & Natural Gas Corporation (ONGC) along with Hindustan Petroleum Corporation Ltd. (HPCL).

MRPL returned to profitability during the September quarter, reporting a net profit of ₹974 crore, compared to a net loss of ₹402 crore it reported during the June quarter.

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Eternal shares are up 1.8% at the moment.