🇮🇳 India Daybook: HCL Tech Q2 Profit Jumps 10.5%, Reliance Industries Dragged by Muted O2C Margins

📍 EARNINGS & FINANCIAL RESULTS

• HCL Technologies: Reported a 10.51% year-on-year increase in consolidated net profit to ₹4,235 crore for the second quarter. Consolidated revenue rose 8.21% YoY to ₹28,862 crore, driven by robust deal wins across digital services and engineering. The IT major revised its FY25 revenue growth guidance upward at the lower end to 3.5%–5.0% in constant currency and declared an interim dividend of ₹12 per share.
• Reliance Industries (RIL): Posted a 4.8% YoY decline in consolidated net profit to ₹16,563 crore for Q2. Performance was weighed down by a 23.7% drop in EBITDA in the Oil-to-Chemicals (O2C) division following a sharp fall in fuel cracks. Partially offsetting this weakness, Jio Platforms posted a 23.4% YoY surge in net profit to ₹6,539 crore with ARPU rising to ₹195.1.
• Sterling and Wilson Renewable Energy: Swung to a consolidated net profit of ₹7.05 crore in Q2 against a net loss of ₹54.24 crore in the year-ago period. Revenue from operations advanced 35.7% YoY to ₹1,030.49 crore on the back of healthy execution in the EPC segment.

📍 ORDER WINS

• G R Infraprojects: Received a Letter of Acceptance (LoA) from the Maharashtra State Road Development Corporation (MSRDC) for an EPC project valued at ₹1,885.63 crore. The project entails the construction of an access-controlled segment (9.34 km) of the Pune Ring Road.
• Bhageria Industries: Secured a Letter of Award as a solar power developer for 32 MW (AC) capacity solar photovoltaic power projects under Component C of the PM-KUSUM scheme.

📍 MERGERS & ACQUISITIONS

• Adani Energy Solutions (AESL): Executed share purchase agreements with PFC Consulting Ltd (PFCCL) to acquire a 100% equity stake in two special purpose vehicles (SPVs)—Jamnagar Transmission Ltd and Navinal Transmission Ltd—for an aggregate consideration of approximately ₹38 crore.

📍 CORPORATE ACTIONS & DEVELOPMENTS

• Easy Trip Planners (EaseMyTrip): The company's board approved the issuance of bonus equity shares in the ratio of 1:1, allotting one free equity share for every fully paid-up share held, subject to shareholder approval.
• Hindustan Aeronautics (HAL): The Government of India approved the elevation of Hindustan Aeronautics to 'Maharatna' status among Central Public Sector Enterprises (CPSEs), providing the aerospace company with greater operational and financial autonomy.
• Wipro: The board informed the exchanges that it will convene to evaluate a proposal for a bonus share issuance alongside its upcoming quarterly earnings announcements.

Tags: India Daybook Stocks in News Corporate News Stock Market Company News