Zomato, IndiGo, Titan Company Q2 results today. Here's what brokerages say

A host of companies are set to announce their results on Friday for the quarter ended on September 30, 2023. The list includes names like Titan Company Ltd, Zomato Ltd and InterGlobe Aviations Ltd (IndiGo). Here's what various brokerage firms expects from these companies in the second quarter of the ongoing financial year: Titan Company Phillip Capital expects Titan’s revenue at Rs 9,737.1 crore in the September 2023 quarter, up 12 per cent on a year-on-year (YoY) basis but down 12.6 per cent quarter-on-quarter (QoQ) basis. Ebitda is seen at Rs 1,050 crore, down 15 per cent YoY, due to a 335 basis points (bps) fall in Ebitda margins at 10.8 per cent. Net Profit is seen falling 16 per cent to Rs 718.3 crore in the quarter. Adik mass and postponement of festive season may weigh on sales, said analysts. "Ebitda margins decline as the benefit of inventory gains on diamond no longer be available, mgmt. balancing between gold rate premium and making charges," Phillip Capital said. However, Sharekhan expects Titan's net sales to come in at Rs 11,234 crore, up 23 per cent YoY, while EBITDA margins may tank about 200 bps to 11.6 per cent. The company may report a flat net profit Rs 852 crore. "In the standalone business, the jewellery business is expected to grow by 19 per cent YoY, watches and wearables business by 32 per cent YoY while the eyecare business is expected to grow by 12 per cent YoY. Higher raw material prices would lead to a 260 bps and 20 bps YoY decline in gross margin and EBITDA margin, respectively," Sharekhan added. InterGlobe Aviation Elara Capital expects IndiGo to report a revenue of Rs 16,006 crore, up 28 per cent YoY but down 4 per cent QoQ in the Q2FY24. Ebitda is likely to come in at Rs 3,355 crore, down 31 per cent QoQ but up 173 per cent YoY, while it may return to black on YoY basis as net profit is seen at Rs 1,459 crore, halfving QoQ. Prabhudas Lilladher expects IndiGo to report a 3 per cent YoY decline in sales led by a seasonal weak quarter, lower yields and load factor. Decrease in crude costs to cushion margin expansion against forex losses. "We built a forex loss of Rs 8 crore. IndiGo expected to report a profitable quarter," it said. PAX travel grew 35 per cent YoY for IndiGo to 9 million as demand remained high. IndiGo's Available seat miles (ASKM) grew 26 per cent YoY and three planes were added in Oct 2023. while passenger load factor (PLF0 rose by 475 bps. IndiGo’s market increased 577bp YoY to 63 per cent in August 2023, said Nuvama Institutional Equities. Zomato Kotak Institutional Equities expect Zomato to report a net sales of Rs 2607 crore, up 57 per cent YoY and 8 per cent QoQ. EBITDA is seen at 9.9 crore, turning positive on both QoQ and YoY basis. Ebitda margins are seen at 0.4 per cent for Q2FY24. The company may turn to black on a YoY basis and report a net profit of Rs 42.6 crore, up 2,030 per cent QoQ. "We build in a strong revenue growth, driven by 28 per cent YoY growth in food delivery revenues, 103 per cent YoY growth in Hyperpure revenues and 205 per cent YoY growth in Blinkit revenues. We bake in 10 bps sequentially higher contribution margin of 6.5 per cent in the food delivery business. Higher profitability of the food delivery business and lower losses in Hyperpure and Blinkit businesses drive an increase in adjusted EBITDA," it added. B&K Securities sees Zomato to clock a revenue of Rs 2,803 crore, up 69 per cent YoY and 16 per cent QoQ, with an Ebitda margins of 0.6 per cent and net profit of Rs 71 crore, up 3,500 per cent QoQ. The company had reported a net loss in the year ago period.