Three major Indian companies—HCL Technologies Ltd, RBL Bank Ltd, and ICICI Prudential Asset Management Company—are scheduled to report their second-quarter results today, October 12, 2026. Market analysts have released their earnings previews, outlining key expectations for each entity.
HCL Technologies Q2 Preview: Revenue Growth & Guidance Watch
HCL Tech is anticipated to lead tier-1 IT players in revenue growth for Q2, with HDFC Institutional Equities forecasting a 2 percent sequential increase on a constant currency (CC) basis. A margin expansion of 50 basis points is also expected. Adjusted net profit is projected to rise 14.7 percent year-on-year (YoY) to Rs 4,857 crore, with sales increasing 11.1 percent YoY to Rs 35,475 crore. The Ebitda margin is estimated at 17.4 percent.
However, investors will closely monitor any revisions to HCL Tech's FY27 guidance. HDFC Institutional Equities suggests the upper end of services guidance might be trimmed from 1.5-3.5 percent to 1.5-3 percent. Emkay Global highlights that attention will also be on the FY27 outlook, commentary on potential recovery in discretionary spending in the second half, and the impact of increased macroeconomic and geopolitical uncertainties on decision-making and tech expenditure.
Other critical areas of focus include the growth outlook for Engineering and R&D (ER&D) and Software businesses, demand trends across key verticals like BFSI, Manufacturing, Technology, Communications, Retail, and Healthcare. The impact of furlough in the third quarter and progress on new revenue pools to counteract AI-led compression will also be keenly watched.
RBL Bank Q2 Preview: Strong Profit & NII Growth Expected
RBL Bank is projected to deliver robust growth in its Q2 earnings. MOFSL anticipates a net profit of Rs 520 crore, marking a substantial 189 percent YoY increase. Net interest income (NII) is expected to climb 35 percent YoY to Rs 2,090 crore. The Bloomberg consensus estimate for net income stands at Rs 479 crore, with operating profit at Rs 1,184 crore.
Strong loan growth of 32 percent YoY and deposit growth of 27 percent YoY are also foreseen, partly driven by bumper FCNR(B) flows. Net interest margins (NIMs) are likely to expand to 4.31 percent, benefiting from fund infusion, though partially offset by product mix shifts and FCNR(B) flows. Stress in credit cards is expected to gradually recede, with credit costs projected at 2.1 percent. The cost-to-income ratio may improve sequentially, despite elevated operating expenses.
ICICI Prudential AMC Q2 Preview: Steady Growth Amid Higher Costs
ICICI Prudential AMC may report single-digit profit growth alongside double-digit sales growth for Q2. Bloomberg consensus estimates revenue at Rs 1,707 crore and net income at Rs 898 crore.
Kotak Institutional Equities expects a 5 percent quarter-on-quarter (QoQ) overall Assets Under Management (AUM) growth, with mutual fund AUM growing 5 percent QoQ and higher growth in alternate AUMs. Core Profit Before Tax (PBT) is projected to see healthy growth of 13 percent YoY, despite an anticipated 4 percent QoQ decline. This will be driven by 16 percent YoY revenue growth (approximately 14 percent QoQ) and elevated expense growth due to new ESOP plan costs. Overall, Kotak expects a 4.8 percent YoY rise in net profit to Rs 875.90 crore on a 14 percent YoY increase in sales to Rs 1,619 crore.