Q2 result previews: Tata Steel, Bharti Airtel & Larsen & Toubro

Dozens of companies will announce their quarterly results on Monday, including three Nifty constituents namely Bharti Airtel, Larsen & Toubro and Bharti Airtel. Among the three, Bharti Airtel is expected to report a doubling of year-on-year profits while Tata Steel may report up to 87 per cent drop in the bottom line, suggest analyst projections.  Tata Steel is seen reporting profit growth in excess of 30 per cent.

Bharti Airtel: Prabhudas Lilladher expects Bharti Airtel to report a 102.7 per cent YoY rise in net profit at Rs 2,344 crore on a 21 per cent YoY rise in sales at Rs 34,285 crore. The brokerage has factored in a net subscriber addition of 20 lakh and average revenue per user of Rs 188. Emkay Global sees profit doubling to Rs 2,274.90 crore. It sees sales climbing 19.2 per cent YoY to Rs 33,752 crore. This brokerage sees a 20 lakh addition in subscribers and 45 lakh addition in data. APRU growth is seen at 1 per cent sequentially.

Tata Steel: Analysts expect a weak quarter for Tata Streel, both at Europe and India, amid a fall in steel prices, lower volume and higher energy cost at Europe. Elara Securities expects Tata Steel to log an 87.7 per cent YoY drop in profit at Rs 1,416.70 crore on a 3.5 per cent drop in sales at Rs 57,877.80 crore.  Edelweiss Securities sees Tata Steel profit falling 79.1 per cent YoY to Rs 1,630 crore. This brokerage sees sales figure at 57,250.80 crore. Motilal Oswal expects Tata Steel to clock a 84.6 per cent YoY drop in net profit at Rs 1,757.70 crore on a 3.9 per cent YoY rise in sales at Rs 62,770.80 crore. The management guidance on Europe operations and the impact depreciating British pound (against dollar) will be watched.

Larsen & Toubro: Motilal Oswal sees L&T's profit at Rs 2,300 crore, up 30.7 per cent YoY. It sees sales growing Rs 14.3 per cent YoY to Rs 39,700 crore. Prabhudas Lilladher pegs L&T's profit at Rs 2,299.80 crore.  "We expect consolidated revenue growth of 17.1 per cent YoY, led by growth in IT, Infrastructure, Heavy Engineering and Hydrocarbon. Strong tender pipeline from domestic as well as exports market is likely to drive order inflows. During the quarter company announced orders in range of Rs 6,500- 13,500 crore.

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