The country's largest car maker Maruti Suzuki India on Friday reported a 47.8 per cent rise in net profit for the March quarter of FY24 to Rs 3,877.8 crore, on account of higher sales volume and favourable commodity prices.
After four years of high double-digit growth in profits, corporate earnings of Indian companies hit a speed bump in the April-June quarter of 2024 (Q1FY25), leading to the risk of a downward revision in India Inc profit estimates for FY25 and volatility in the equity market. Earnings growth slowed despite companies in most non-financial sectors reporting higher operating margins from lower commodity prices and a decline in interest costs.
Maruti Suzuki India on Wednesday reported a 42 per cent rise in consolidated net profit to Rs 2,671 crore for the fourth quarter ended March 2023, driven by higher sales, improved realisation and favourable forex movement. The country's largest carmaker logged a net profit of Rs 1,876 crore in the January-March of 2021-22. Net sales during the fourth quarter rose to Rs 32,060 crore compared to Rs 26,749 crore in the year-ago period, Maruti Suzuki India (MSI) said in a regulatory filing.
Post-election capital expenditure (capex) has been weak at 2 per cent year-on-year (Y-o-Y) in M9FY25. The FY25 revised estimates (RE) indicate 7 per cent growth in FY25 against FY24, implying 21 per cent Y-o-Y growth in Q4FY25 government capex.
From the Sensex shares, IndusInd Bank jumped 7.12 per cent. Axis Bank, Adani Ports, Asian Paints, Bharti Airtel, State Bank of India and ITC were also among the gainers. Maruti, Infosys, Tata Motors, Larsen & Toubro, NTPC and Bajaj Finance were among the laggards.
The June quarter numbers of the country's largest listed healthcare services provider, Apollo Hospitals Enterprise (Apollo), were in line with Street estimates on the operational front. Net profit estimates, however, missed expectations due to higher interest and tax outgo. The revenue performance of the core hospital segment was robust, registering a 13 per cent increase over the year-ago quarter.
Propelled by strong demand and lower costs, the country's largest airline, InterGlobe Aviation (IndiGo), reported solid operational performance in the 2024-25 (FY25) October-December quarter (Q3). While demand was driven by the festival season, year-end increase, and higher consumer spending, lower fuel and rental costs helped deliver a beat at the operating profit level.
Wockhardt slumped 6% to Rs 389.50 on Friday after it declared a 43.8% drop in net profit for Q4 ended 31 December 2002.
ICICI Bank on Saturday said its March quarter consolidated net profit grew 18.5 per cent to Rs 11,672 crore, helped by lower provisions. On a standalone basis, the second largest private sector lender showed a 17.4 per cent growth in its profit after tax at Rs 10,708 crore for the reporting quarter against Rs 9,122 crore in the year-ago period. For fiscal 2023-24, its standalone net profit grew to Rs 40,888 crore from Rs 31,896 crore a year ago.
A robust show during the March quarter of 2024-25 (Q4FY25) and hopes of a strong demand momentum have led to an upward revision of Mahindra & Mahindra's (M&M's) earnings. With a slew of launches lined up amid a steady demand environment, brokerages see M&M outperforming peers in passenger vehicles (PVs), tractors and commercial vehicles (CVs).
Though India was under lockdown for only seven days of the quarter, global demand and commodity prices began falling from February as COVID-19 was spreading in other countries. 1,002 listed companies - excluding banks, non-bank lenders, insurers, brokerages, and IT firms - reported a combined pre-tax loss of around Rs 2,700 crore during Q4.
Corporate India reported high double-digit growth in net profit for the fourth consecutive quarter in October-December 2023 (Q3FY24), driven by margin gains from lower prices of raw material and energy.
The pre-sales volume of Godrej Properties (GPL) for third quarter of the financial year 2025 (Q3FY25) declined 6 per cent year-on-year (Y-o-Y) -- down 21 per cent quarter-on-quarter (Q-o-Q) -- to 4.1 million square feet (msf), resulting in a pre-sales value of Rs 5,450 crore, down 5 per cent each Y-o-Y and Q-o-Q. About 77 per cent came from newly launched projects. For 9MFY25, pre-sales were up 48 per cent Y-o-Y to Rs 19,300 crore.
Revenue soared 6.2 per cent to Rs 20,602.2 crore for the three months ended March 31, 2019.
Banks have outperformed the broader market in the past six months and most of the leading lenders have given positive returns to investors compared to a negative return delivered by benchmark indices.
Indian stock markets have experienced some ups and downs in the first half of 2025. However, both the Nifty 50 and Sensex saw steady gains, supported by a healthy economy and better corporate earnings. In this article, we will look at the detailed performance of these key indices and explore the sectors that drove the market rally.
Kotak Mahindra Bank's net interest margin is likely to swell after the Reserve Bank of India (RBI) lifted its restrictions on the private lender that barred it from issuing fresh credit cards and onboarding new customers through digital mode, brokerages said on Thursday. The bank's net interest margin (NIM) has seen a decline of over 35 basis points (bps) since the restrictions were imposed by the regulator in April 2024.
UltraTech Cement's results for the fourth quarter results of the 2022-23 financial year (Q4FY23) were broadly in line with the Street estimates. The consolidated revenue, operating profit and net profit stood at Rs 18,700 crore, Rs 3,300 crore and Rs 1,670 crore, respectively, which were up 18 per cent, 8 per cent and 13 per cent YoY, respectively.
Cement manufacturers have hiked prices after a challenging Q1FY25, and Q2FY25 (so far) when general elections and seasonal factors cut down on construction activity. The August prices are currently around 3-6 per cent above July 2024 but may not be sustainable in the face of weak demand. H2FY25 may see realisation growth which, if it happens, would drive average operating profit/tonne improvements in H2FY25 over a muted H1FY25.
Mahindra & Mahindra (M&M) delivered a stronger-than-expected operational performance in the October-December quarter (Q3) of 2024-25 (FY25), driven by solid growth in its automotive (auto) and farm equipment segments. Higher volumes improved operating leverage, expanding margins.
Indian Hotels reported strong consolidated revenue growth of 29 per cent year-on-year (Y-o-Y) in the third quarter of the current financial year (Q3FY25), led by revenue per available room, or RevPAR, growth of 15 per cent. The average room rate, or ARR, was up 13 per cent and occupancy improved 120 basis points (bps) Y-o-Y on a standalone business. Like-for-like revenue growth was 15 per cent Y-o-Y, while TajSats (airline catering) grew by 18 per cent Y-o-Y.
Electrical Consumer Durable (ECD) companies like Havells India have seen strong Q4FY24 sales and continuing seasonal demand across fans, air coolers, and room air conditioners (RAC) in addition to business-to-business sales of cables, switchgear, and professional lighting, among others. Havells India's Q4FY24 revenue rose 12 per cent year-on-year (Y-o-Y) to Rs 5,400 crore, in-line with consensus. Strong summer demand led to robust volume growth in fans and RAC and volume growth in cable and wires (C&W) due to infrastructure spending and real estate activity.
The recovery was led by information technology exporters.
Analysts refuse to read too much into the early birds numbers.
Overall, Tata Steel becomes the seventh non-financial firm, including four oil PSUs to report quarterly revenues of Rs 50,000 crore.
The stock of India's largest listed pure play retail major Trent was down 14.76 per cent at close on Monday after a fall in revenue growth for the March quarter of 2024-25 (Q4FY25). The sales growth trajectory has been in a declining trend over the last few quarters, which, coupled with falling operational metrics, higher competitive intensity, and expensive valuations, has seen the stock crack about 44 per cent since its 52-week highs in October last year.
'Every delay directly increases the cost burden on developers. Land holding charges, financing costs, and compliance expenses escalate as approvals drag on.'
The combined net profit of "early bird" companies, those that have declared their quarterly results, rose for the third consecutive quarter in July-September 2023 (Q2FY24). But the figures suggest a continued slowdown in revenue growth and stagnation in earnings over recent quarters. This slowdown is severe for companies in the manufacturing and non-financial service sectors.
The country's largest software services firm Tata Consultancy Services on Monday opened the fourth-quarter earnings season with a stellar set of numbers, crossing the Rs 50,000 crore revenue mark for the first time and earning a net income of Rs 9,926 crore, registering a growth of 7.4 per cent year-on-year. The company said its revenue jumped 15.8 per cent to Rs 50,591 crore in the reporting quarter on an annualised basis. Many analysts were expecting the Tata group flagship to report over Rs 10,000 crore of net income and revenue to cross the Rs 50,000 crore mark this quarter.
While Wipro will announce its fourth quarter (Q4) results along with annual financial statements on April 15, market leader TCS will hold its board meet the next day (April 16) for approval of its financial statements. Infosys is yet to inform investors the date it will announce its Q4 earnings.
The recent surge in crude oil prices could shave off the gains made by India Inc in profit margins in the past few quarters. Worse, it comes at a time when consumer demand in the country is slipping and major global economies are witnessing a slowdown. A back-of-the-envelope calculation suggests that the margin expansion accounted for three-fourths of the rise in the listed firms' operating profit between the April-June quarter (Q1) of FY23 and Q1FY24, and only a quarter of profits gains came from revenue growth.
Revenue grew 5.1 per cent in the quarter under review to Rs 39,946 crore from Rs 38,010 crore in the corresponding period last fiscal.
Steel maker JSW Steel's Q3 results, announced on January 24, 2025, after market hours, failed to meet Street expectations. The company reported a consolidated net profit attributable to the owners of Rs 717 crore in Q3FY25, reflecting a 70.3 per cent decline Y-o-Y, compared to Rs 2,415 crore in Q3FY24.
Quick commerce is proving to be a solid business proposition, with companies like Zomato's Blinkit and Y Combinator-backed Zepto recently registering growth, charting paths to profitability. Blinkit logged its highest gross order value (GOV) and customer transactions in June and July, showing a positive contribution for the first time in the quarter ended June 2023. Deepinder Goyal, Zomato's co-founder and chief executive officer (CEO), predicted that Blinkit would deliver more value to shareholders than the core food delivery business in the next decade.
LTIMindtree's (LTIM's) December quarter revenue, at $1.139 billion, was up 1.8 per cent quarter-on-quarter (Q-o-Q) (5.6 per cent year-on-year or Y-o-Y) in constant currency (CC) terms, marginally ahead of expectations.
The country's largest bank SBI on Thursday reported an 83 per cent jump in net profit at Rs 16,694.51 crore for the fourth quarter of 2022-23 fiscal on higher interest income and low provisioning. In the January-March quarter of 2021-22 financial year, State Bank of India's net profit on standalone basis was Rs 9,113.53 crore. During the March quarter of 2022-23 fiscal, the bank's interest income rose 31 per cent to Rs 92,951 crore, SBI said in a regulatory filing.
A slowdown in hiring by India's top IT companies has resulted in a sharp increase in the industry's profit per employee in Q3FY23. The top four IT companies earned a net profit of 1.7 lakh per employee during October-December 2022, up 8.6 per cent from Rs 1.57 lakh in Q2FY23 and 16.3 per cent from a record low of Rs 1.47 lakh in Q1FY23. Earnings per employee in the third quarter were, however, still down 0.9 per cent on a year-on-year (YoY) basis.
India's largest cable and wire manufacturer Polycab India ended financial year 2024-25 (FY25) on a high, delivering another strong quarter of double-digit growth and market share gains. This coupled with margin expansion, operating breakeven for its fast-moving electrical goods (FMEG) business, and steady exports outlook for FY26 is expected to support the stock, which is up 18 per cent over the past month. The stock is currently trading at Rs 5,765 a share.
'The market's nervousness ahead of anticipated US tariffs has led to a significant downturn in Indian equities.'
