Around 49 companies, including two Adani group companies, are set to announce their quarterly results for the January-March 2024 period on Thursday.
Other notable companies’ which are also due to release their earnings today include Coal India, Dabur India, Federal Bank, Digicontent, Blue Star, Ajantha Pharma, JBM Auto, Khemani Distributors, KPR Mills, Kretto Syscon, Ksolves India, Aptech among others.
State-owned Coal India is expected to put up a strong operational show for the quarter ended March 2024, led by lower employee costs. The previous year quarter included arrears of earlier years. The company will announce its quarterly results on May 2.
Net profit for the fourth quarter is seen rising around 37% year-on-year, while net sales are likely to be flat or even decline up to 5% year-on-year.Mumbai Stock Exchange
On a sequential basis, net profit for the quarter may fall 17% quarter-on-quarter and sales are likely to remain flattish. Operating profit or EBITDA for the quarter is expected to jump over 50% year-on-year in the reporting March quarter.
Earnings are not comparable with the same quarter last year due to the provision of Rs 5,800 crore taken in 4QFY23 on account of wage revision.
Kotak Equities estimates Healthy growth in dispatches to 202 million tonnes, up 8% year-on year, in 4QFY24.
“Blended realizations at Rs 1,649/tonne in 4QFY24, reflecting the price increase taken for high-grade coal from end-May 2023Agra Stock. Sequential drop in realizations on account of the weakness in auction premiums,” it added.
FMCG company Dabur India is expected to report a net profit of Rs 320 crore for the quarter ended March 31, 2024 according to average estimates of four brokerages. This will be a 9% year-on-year jump over Rs 293 crore reported in the year ago period led by growth in domestic business.
The range of profit after tax (PAT) for Q4FY24 is between Rs 341 crore and Rs 313 crore. The highest among the estimates is given by brokerage Axis Securities while the lowest by Anand Rathi.
The revenue from operations could likely be around Rs 2,826 crore for the January-March quarter, up by 5.5% on the YoY. The highest revenue estimates for the reporting quarter is by Axis at Rs Rs 2,838 crore while lowest by Anand Rathi at Rs 2,811.70 crore.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Pune Wealth Management