Q2 results today: YES Bank, ICICI Bank among 63 companies to announce earnings on Saturday

ICICI Bank, HDFC Bank, and Kotak Mahindra Bank are among the 63 companies that are scheduled to announce their Q2 results on Saturday, July 30.

YES Bank is also set to announce its Q2 results on Monday, July 31. The bank had reported a net loss of Rs 3,788 crore in the previous quarter.

The Q2 results of the companies will be closely watched by the market as they will provide an insight into the impact of the COVID-19 pandemic on their businesses.

The earnings season has already kicked off with a few companies announcing their results. HDFC Bank reported a 21.3% increase in its net profit to Rs 9,103 crore for the quarter ended June 30, 2022, driven by a strong growth in its loan book and a decline in its provisions.

Kotak Mahindra Bank also reported a strong set of numbers with its net profit rising by 28.2% to Rs 2,079 crore for the quarter ended June 30, 2022. The bank's net interest income grew by 20% and its provisions declined by 17%.

The Q2 results of ICICI Bank and YES Bank will be keenly watched by the market as both the banks have been facing challenges in recent times. ICICI Bank has been facing allegations of money laundering, while YES Bank has been grappling with a bad loan problem.

The market will be hoping that the Q2 results of these companies will provide some clarity on the impact of the COVID-19 pandemic on their businesses and their outlook for the future.