The first quarter earnings season is underway and as many as 115 companies will announce their quarterly numbers on Wednesday. Key results to watch out include Maruti, M&M, Coal India, Adani Power, Tata Steel, Ambuja and Bank of Baroda.
Apart from the above, companies like Aster DM Healthcare, Barbeque Nation, Deccan Healthcare, Dynamic Cables, IIFL Securities, Mankind Pharma, The Phoenix Mills, Thomas Cook, ZEE among others will also declare their first quarter results.
M&M Q1 expectations
Mahindra and Mahindra is expected to report healthy growth in its revenues for the first quarter ended June 2024, driven by tractor and automotive segments. Meanwhile, profits are likely to be muted.
M&M reported volume growth of 13% YoY in autos and 6% YoY in tractors, leading to an overall volume growth of 11% YoY during the quarter.
Maruti Suzuki Q1 expectations
India’s leading automaker Maruti Suzuki is expected to report stable revenue growth in the first quarter that ended June 2024, while profitability is seen as solid.
Revenue from operations during the April-June 2024 quarter is likely to grow 7% year-on-year, according to an average estimate of four brokerages. The growth will be led by an increase in volumes though the average selling price (ASP) growth is expected to remain flat.
The company has posted 5% YoY growth in volumes driven by visible traction in UVs (utility vehicles) even as entry-level models declined.
Net profit for the reporting period may jump 30% YoY, an average estimate of four brokerages revealed.
Tata Steel Q1 expectations
Steel major Tata Steel is likely to see robust growth in profitability in the first quarter ended June 2024, but the bottomline may decline.
Net profit for the June quarter may increase anywhere between 57-209% YoY, according to estimates from five brokerages.
While YES Securities has the least estimate for PAT growth of 57% at INR 998 crore, Equiris Securities estimates PAT growth to be 209% to INR 2,465 crore.
Revenues for the reporting April-June 2024 period, however, may fall 6% YoY, according to an average estimate of five brokerages.
