The second quarter earnings season is underway and 44 companies will announce their numbers for the July-September 2024 period on Friday. Key results to watch out include from Jio Financial, Tata Consumer, ICICI Lombard and ZEEL.Apart from the above, Advik Capital, Best Agrolife, Duncan Engineering, Hindustan Zinc, Indostar Capital, Manba Finance, L&T Finance, Roselabs Finance, Tejas Networks and a few others will report their quarterly results.Tata Consumer Q2 expectationsFMCG company Tata Consumer Products is expected to report healthy growth in its second quarter sales, owing to solid show in new businesses, but the bottomline may fall due to higher depreciation and finance costs.Net profit for the quarter is seen declining 5% year-on-year, according to an average estimate of four brokerages, while revenues are seen growing 15% year-on-year.Analysts expect Rs 320 crore in revenue from Capital Foods and Organic India combined. The margins from these businesses will be ahead of consolidated margins given the synergies playing out post integration and pilot projects being taken up in pharma and food channels.In the preceding June quarter, Tata Consumer reported 8% fall in its consolidated net profit to Rs 290 crore and revenues rose 16% year-on-year.Nuvama expects India beverage business to decline 4% YoY with negative volumes in tea. Meanwhile, India foods business revenue is likely to grow 14% YoY.In Q2FY25, Tata Consumer witnessed some benefit of older inventory in tea, which might allow it to take some price hikes across a few SKUs. However, from Q3, tea margins shall likely be under pressure, but a gradual pricing has started.International business has done well and is likely to grow 6% YoY in CC terms. We estimate YoY improvement in International business margins due to improvement started in US coffee.Non branded: We expect it to grow 25% YoY due to high realisation in coffee. We reckon gross margins shall expand 230bp YoY to 44.8% while EBITDA margins shall expand mere 10bp YoY.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)