Markets
Indian companies post mixed second-quarter results as banks and technology shares diverge
Indian companies reported a mixed second quarter, with strong profit growth at Federal Bank, Punjab National Bank, Ujjivan Small Finance Bank and Tech Mahindra alongside weaker or loss-making results elsewhere. Federal Bank linked its record profit partly to a foreign-currency deposit fundraise, while Urban Company reported rapid order and revenue growth alongside heavy investment in InstaHelp and a wider loss. Market reactions varied: technology gainers included Tech Mahindra and Wipro, while Jio Financial and Persistent Systems fell. The report is a rolling compilation rather than a single sector-wide analysis.
Editorial summary · Publisher article
What matters
- Federal Bank’s net profit rose 45% year on year to ₹1,386 crore, while gross and net non-performing assets reached reported decade lows.
- Tech Mahindra’s profit rose 32.8% to ₹1,586 crore, while Wipro’s profit declined 1.9%.
- Urban Company’s revenue rose 41.4%, but its consolidated loss widened to ₹182.48 crore; the board also approved a proposed ₹2,500 crore capital raise.
- Sensex gained 0.56% and the Nifty 0.65% on October 16, extending their weekly advances.
Growth alongside higher investment
Urban Company reported strong transaction, order and user growth, but said investment in InstaHelp drove a negative adjusted EBITDA result; excluding that business, adjusted EBITDA was positive.
Context & caveats
- The article combines many company announcements and market reactions; several figures are company-reported and the compilation does not provide a unified explanation for sector-wide trends.
Why this made the edition
The live earnings report contains substantial, attributed financial results across banks, technology companies, retailers and industrial firms, with enough figures to identify meaningful developments despite its aggregation format.
Source material