Wipro, Tech Mahindra, Hindustan Unilever, LTI Mindtree, among others to announce their Q4 earnings today

After a day packed with record-breaking dividend announcements, high earnings, and some disappointing performances reported by several IT, fin-tech, and NBFCs, the stock market ended in green on Wednesday. Sensex closed 0.28 per cent higher at 60,300.58, whereas, Nifty was up by 0.25 per cent to close at 17,813.60. The market was bullish also because of short coverings ahead of the expiry of monthly derivatives contracts.

On Thursday, investors will be keenly waiting for the results of companies like Wipro, Hindustan Unilever, Tech Mahindra, LTI Mindtree, etc. Other companies like Aditya Birla Sun Life AMC, Aarti Surfactants, Axis Bank, Bajaj Finserv, Bajaj Holdings & Investment, ACC, Agro Tech Foods, Glenmark Life Sciences, Shriram Finance, Motilal Oswal Financial Services, etc will also announce their quarterly results on Thursday.

Also Read: Q4 results this week: Maruti Suzuki, IDBI, Kotak, Wipro, and more

Wipro

Wipro's stock price ended marginally lower at ₹374.50 apiece on BSE on Thursday. Wipro's market cap is over ₹2.05 lakh crore as of April 26

The tech giant reported a 15 per cent YoY rise in its net profit in the December quarter of FY23 to ₹3,052.9 crore. Its consolidated net profit was up by 2.8 per cent QoQ in Q3FY23. Its IT services segment revenue rose by 6.2 per cent YoY to $2,803.5 million, while non-GAAP constant currency growth stood at 0.6% QoQ and 10.4% YoY. Wipro's operating margin for the December quarter expanded by 120 bps QoQ to 16.3 per cent.

Also Read: Wipro Q4 preview: PAT growth, FY24 guidance, buyback, key factors to watch

Market experts are skeptical about the company's Q4 performance due to the seasonally weak nature of the quarter due to fewer working days and the furlough impact in January. There is also an additional pressure of weak macros among some areas like US retail, Tech sector, etc. Some are expecting strong revenue growth due to robust growth deals.

Also Read: Day trading guide for today: Six buy or sell stocks for Thursday — 27th April

"Q4 is seasonally weak due to fewer working days and some furlough impact in January. In IT services, the company is witnessing incremental pressure due to weak macros among some pockets such as US retail, Technology companies, investment banking, etc, which are likely to impact Q4 revenues. We bake in a 0.5% QoQ decline in revenues in CC for the quarter while we build in 100 bps cross-currency tailwinds for the quarter resulting in a +0.5% QoQ increase in dollar revenues for the quarter. Rupee revenues are expected to increase 0.5% QoQ for the company," said ICICI direct in its preview.

Hindustan Unilever

Hindustan Unilever shares closed 0.59% per cent higher at ₹2504.70 apiece on Wednesday. Its market capitalisation stood at 5,88,502.12 crore on Wednesday.

Also Read: HUL Q4 preview: Revenue growth in double-digit, volume growth around 5-6%

The FMCG giant was able to beat the market predictions in its Q3FY23 earnings. It reported an 11.6 per cent YoY rise in its net profit to ₹ ₹2,505 crores, helped by increasing demand for its beauty and personal care products, which offset a rise in raw-material costs.

Axis Bank

Axis bank shares closed 1.08 per cent higher at ₹887.80 apiece on BSE on Wednesday. Its m-cap stood at 2.73 lakh crore till yesterday.

Also Read: Axis Bank Q4 preview: Lender may report losses due to write-off in Citi deal, NII seen strong

Axis Bank registered a spectacular growth of 62 per cent YoY in its net profit to ₹5,853.1 crore in Q4FY23. Its NII registered a strong growth of 32 per cent YoY and stood at ₹11,459 crore in Q3FY23.

Market experts are expecting stronger growth performance by the bank in the fourth quarter as well. But the bank is expected to post loss in Q4Fy 23 because of its knocking off goodwill related to Citi acquisition.

In its preview note, ICICI Direct said, "Axis Bank is expected to deliver healthy business growth and steady operational performance, however, optically the bank is expected to report loss in Q4FY23, owing to one-off impact of knocking off goodwill related to Citi acquisition."

Tech Mahindra

A day ahead of its quarterly results, Tech Mahindra shares closed on a marginally lower note. Its shares closed by 0.06% at ₹996.20 apiece.

In the December quarter, Tech Mahindra reported weaker growth on the ground of a weak macro economic environment. The company reported a 5 per cent YoY slump in its net profit to ₹1,296.6 crore against ₹1,368.5 crore profit reported in the quarter that ended in December in FY22.

Its revenue from operations stood at ₹13,734.6 crore for Q3FY23, which was up 20% year-on-year and 4.6% quarter-on-quarter.

LTI Mindtree

Reflecting the apprehensive stance of market investors, LTI Mindtree shares also closed on a marginally lower note on Wednesday. Its shares closed 0.64% down at ₹4158.60 apiece on BSE on Wednesday.

The tech firm failed to appease its investors and shareholders in its Q3FY23 earnings, where it reported an annual decline of 4.7 percent in its net profit to ₹1000.7 crore, against Rs1050.1 crore of net profit reported in Q3FY22.

The consolidated revenue of the IT firm rose by 25.3 per cent to ₹8620 crore in the December quarter against ₹6880.7 crore in the corresponding quarter last fiscal.