HCL Tech, RBL Bank, ICICI Pru AMC Q2 results today; earnings preview 

HCL Technologies Ltd, RBL Bank Ltd and ICICI Prudential AMC are scheduled to report their quarter results on Monday. HCL Tech is seen reporting about 2 per cent sequential growth in Q2 revenues on constant currency (CC) terms and an expansion in margin, but eyes would be on any revision in FY27 guidance. RBL Bank is seen clocking more than doubling of Q2 net profit, with net interest income (NII) seen rising 35 per cent YoY and net interest margin (NIM) expanding sequentially. ICICI Prudential AMC may report a single-digit growth in profit on double-digit growth in sales, analysts said.

HCL Tech Q2 results preview
HCL Tech is expected to deliver the best revenue growth among tier-1 players, with HDFC Institutional Equities expecting it at 2 per cent sequentially on CC basis, alongside a 50 basis points margin expansion. That said, this brokerage expects HCL Tech to trim the upper end of its services guidance to 1.5-3 per cent from 1.5-3.5 per cent. Adjusted net profit is seen rising 14.7 per cent YoY to Rs 4,857 crore on 11.1 per cent YoY rise in sales at Rs 35,475 crore. Ebitda margin is seen at 17.4 per cent.

Emkay Global, which sees 3 per cent QoQ dollar revenue growth after factoring in 100bps contribution from HPE Telco and Jaspersoft and 10bps cross-currency headwinds said all eyes will be on FY27 outlook. It said investors will follow commentary on any possibility of recovery in discretionary spending in 2H and impact from increased macro and geopolitical uncertainties on the pace of decision making and tech spending. Growth outlook for ER&D and Software businesses; demand outlook for major verticals like BFSI, Manufacturing, Technology, Communications, Retail, and Healthcare; and impact of furlough in 3Q will be keenly watched. Lastly the impact from AI-led compression on revenue growth and progress on new revenue pools to negate this deflationary impact will also be tracked.

RBL Bank Q2 results preview
In the case of RBL Bank, the Bloomberg consensus estimate for net income stands at Rs 479 crore. Operating profit is seen at Rs 1,184 core, while net interest income is estimated at 4.58 per cent. Gross non-performing assets is expected to come in at 1.39 per cent of the total assets.

MOFSL expects RBL Bank to report net profit of Rs 520 crore, up 189 per cent YoY. It sees net interest income (NII) to rise 35 per cent YoY to Rs 2,090 crore. Thee domestic brokerage sees strong loan growth at 32 per cent YoY and deposit growth at 27 per cent YoY amid bumper FCNR(B) flows. Stress in credit cards is expected to gradually recede with credit costs clocking in 2.1 per cent.
"NIMs are likely to expand to 4.31 per cent amid the full impact of fund infusion partly offset by product mix shift and FCNR(B) flows. C/I ratio may improve sequentially even as opex ratios remain elevated," it said.

Nuvama Institutional Equities expects RBL Bank to report 134 per cent YoY rise in net profit at Rs 419 crore on 25 per cent YoY rise in NII at Rs 1,944 crore.

ICICI Prudential AMC Q1 results preview
The Bloomberg consensus estimates for Q2 revenue and net income stand at Rs 1,707 crore and Rs 898 crore, respectively.

"We expect 5 per cent QoQ overall AUM growth, with MF AUM growth of 5 per cent QoQ and higher growth in alternates AUM. We expect healthy core PBT growth (13 per cent YoY; down 4 per cent QoQ), led by 16 per cent YoY revenue growth (~14 per cent QoQ and elevated expenses growth (new ESOP plan costs)," Kotak Institutional Equities said.

This brokerage expects ICICI Prudential AMC to report 4.8 per cent YoY rise in net profit at Rs 875.90 crore on 14 per cent YoY rise in sales at Rs 1,619 crore.