The first quarter earnings season is here and India Inc is all set to release its results for the quarter ended June 31, 2024, starting this week, with IT services major Tata Consultancy Services (TCS) to report its quarter numbers on Thursday (July 11). Following this, HCL Technologies will report its Q1 results on Friday (July 12). Others like Tata Elxsi, Anand Rathi Wealth, NELCO, Avenue Supermarts, are also slated to release their Q1 numbers this week.
In terms of the IT sector, besides TCS and HCL Tech, other firms that will release their Q1 earnings this month are Infosys slated to report Q1FY25 numbers on July 18, Wipro on July 19, Tech Mahindra on July 25, and HCL Technologies on April 26.
India Inc, meanwhile, is expected to post good profit numbers for the April-June quarter, with sectors like automobiles, banking, metals, capital goods and pharmaceuticals doing reasonably well during the period. Information technology (IT) players are also expected to chip in with a decent performance courtesy the improving demand environment and better deal execution, said Kotak Institutional Equities. For the Nifty 50 set of companies, profits may stay flat YoY and decline 10.7 per cent sequentially. For BSE-30 companies, the brokerage firm expects profits to go up by 8.1 per cent YoY, but fall 8.4 per cent sequentially. Continuing stability in the prices of generics in the US as also good growth in other markets is expected to boost the earnings of pharma majors.
Revenues for the automobile space are expected to grow by 10 per cent on-year on the back of an improvement in the average selling price of vehicles driven by price hikes and a richer product mix, Kotak Institutional Equities said.
Here are key dates to watch out for this week:
July 9: Delta Corp, GM Breweries
July 10: Tata Elxsi, Kesoram Industries
July 11: TCS, Anand Rathi Wealth, NELCO
July 12: HCL Technologies, Indian Renewable Energy Development Agency, Oriental Hotels
July 13: Avenue Supermarts, Geojit Financial Services
From: financialexpress
Financial News