Total net revenues in the quarter went up by 8.5% yoy while growing at 3.5% qoq as volumes were up by 5.3% yoy and 1% qoq in the quarter which recorded the highest quarterly volumes ever, but on higher base, the growth was stunted.
Shrugging itself off from a turbulent 2017, Infosys recorded best ever large deal total contract value (TCV) in its history of US$2bn (previous highest ~US$1.2bn) in 2QFY19, against our expectation of US$1.5bn.
Federal Bank (FBL) reported 2QFY19 results with the key takeaways being: (1) Kerala floods would result in incremental slippage of ~Rs1.5bn in total and full year FY19 slippage guidance stands at Rs14.5bn, implying significantly lower slippage ratio over 2HFY19.
Hero MotoCorp (HML) reported 2QFY19 results which were in line with expectations as sales and margins came broadly in line while PAT at Rs9.8bn was 5% above our estimate because of higher other income.
Cyient posted a solid performance in 2QFY19 with revenue growing by a robust 6.5% QoQ in CC terms and 5% QoQ in USD terms to US$168.9mn, exceeding our estimate by 1.4%
Havells India (Havells) has posted a mixed performance in 2QFY19 led by lower margin owing to volatility in commodity prices, INR depreciation and lag in passing on the higher input cost.
Infosys reported a robust performance in 2QFY19 with revenue rising by 4.2% QoQ in CC terms (3.2% in USD terms) led by Financial Services (+5.8% QoQ in CC terms), Retail (+5.9%) and MFG (+4.8%) verticals.
Earnings per share (EPS) of the company for the earnings for FY19E and FY2oE are seen at Rs. 9.37 and Rs. 10.78 respectively. Net Sales and PAT of the company are expected to grow at a CAGR of 8% and 12% over 2017 to 202oE respectively.
Earning per share (EPS) of the company for the earnings for FY19E and FY2OE is seen at Rs. 15.83 and Rs. 18.48 respectively. Net Sales and PAT of the company are expected to grow at a CAGR of 28% and 38% over 2017 to 202GB respectively.
