Live Q2 2024 earnings updates: While majors like Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro, Tech Mahindra, Reliance Industries, Mahindra and Mahindra, Bharti Airtel, HUL, ITC, Marico, Dabur India, Nestle India, L&T, Adani Enterprises, Apollo Hospitals, Mankind Pharma, ONGC, GAIL, Godfrey Phillips, LIC, SBIAxis Bank, HDFC Bank, IRCTC, Coal India, JK Lakshmi Cement, Havells India, Paytm, ABFRL, Zomato, PVR Inox, Lupin, Tata Motors, have already released their Second quarter resultsMarket participants and investors are eagerly waiting for the few remaining companies to announce their quarterly results.

Today, companies like Hyundai Motor India, BoschZydus Lifesciences, General Insurance Corporation of India, UNO Minda, FSN E-Commerce Ventures Nykaa, 3M IndiaSuven Pharmaceuticals, Natco Pharma, Cello World, Finolex CablesReliance Power, NMDC Steel, Marksans Pharma, Minda Corporation, Sanofi Consumer Healthcare India, PN Gadgil Jewellers, Cera sanitary wareReligare Companies, Lux Industries, Allcargo Logistics, Cantabil Retail IndiaYatra Online, Shalimar Paints, Liberty Shoes and several others are lined up to announce their second quarter numbers.

So far, the corporate earnings scorecard for Q2FY25 has been weak, but excluding commodities, it is broadly in line. According to a report by Motilal Oswal Financial Services (MOFSL), “the earnings gap has deteriorated, with only 62% of the MOFSL coverage universe meeting or exceeding earnings expectations. Consumption has emerged as a weak point while some BFSI segments are experiencing stress on asset quality.

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India Inc’s weak numbers for the quarter led to the biggest downward revisions to profit estimates since early 2020, according to Jefferies. The brokerage said it had downgraded earnings estimates for 63 percent of the 121 companies under its coverage that reported their latest quarterly results.

Vipul Bhowar, senior director of listed investments at Waterfield Advisors, said: “The notable downward revisions to earnings forecasts in India can be attributed to several factors: weak consumer demand, cyclical economic conditions, reduced spending public and adverse weather conditions. The current slowdown is part of a natural economic cycle rather than a structural problem, and it is expected to improve in the coming quarters.

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