The hits and misses of the Q2 earnings season so far

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The hits and misses of the Q2 earnings season so far
We are in the middle of the earnings season with several blue chip companies already declaring their results, while a few of them are still left. The earnings season has been better then what analysts had expected, with banks particularly doing well. Take a look at the hits and misses of the earnings season so far.

ITC revenues disappoint, profits ahead of estimates

While ITC's net profit of Rs 2,230.53 crores was above street estimates, its revenues of Rs 7,775.79 crores, was way below street estimates of around Rs 8,000 crores. Volumes in the tobacco business also disappointed.

ICICI Bank Q2 numbers good on every parameter

ICICI Bank's Q2 numbers were good on every parameter including net interest margins, gross non performing assets and profitability. In fact, gross non performing assets, a key financial parameter for banks declined to 3.08%, as against 3.23% (quarter-on-quarter).

Asian Paints Q2 numbers cheer

Asian Paints surprised the markets with a near 37 per cent jump in consolidated net profit to Rs 327 crore for the second quarter ended September 30. The company had posted a consolidated net profit of just Rs 239 crore in the same period of previous fiscal.

Record losses for Q2 FY 2014 at Jet

Jet Airways surprised the market negatively with a poor set of numbers with losses hitting a new record of Rs 891 crore for the quarter ended Sept 20. The stock has fallen after declaring results as the company continues to be hit by high operating costs.

L&T Q2 numbers beat street estimates

Larsen and Toubro reported a net profit of Rs 978 crore for the three months to September 30, as against analysts estimate of around Rs 880 crore.

Better margins helped profitability and the stock has risen almost 10% since the declaration of its results

Higher interest income boosts profitability

Yes Bank reported a jump in net profit to Rs 371.1 crore, an increase of more then 21% against the corresponding period last year, aided by higher interest income and growth in non-interest income. The stock has risen in the last few days, but had dropped on Friday.

Reliance, TCS, Infosys, HCL and Wipro were other blue chip stocks that declared results way ahead of expectations.

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