Maruti Suzuki, Bajaj Finance, HDFC Life among others to announce Q4 results today
3 min read 26 Apr 2023, 07:45 AM ISTStock market investors will keenly wait for the quarterly earnings of companies like Maruti Suzuki, Bajaj Finance, HDFC Life, IIFL Finance, L&T Technology, SBI Life Insurance, Voltas, etc, on Wednesday
PremiumStock markets closed on a slightly higher note, as record-breaking results of many continued in tandem with the disappointing performance of others on Tuesday.
Sensex closed 75 points higher at 60,130.71 while the Nifty closed 26 points higher at 17,769.25 on Tuesday. Companies like Nestle, Bajaj Auto, and Tata Consumer continued to build market optimism on Tuesday.
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Market investors will be keenly waiting for the quarterly earnings of Maruti Suzuki, SBI Life Insurance Company, HDFC Life Insurance Company, Bajaj Finance, L&T Technology Services, Voltas', Poonawalla Fincorp, KPIT Technologies, UTI Asset Management Company, Shoppers Stop, JTL Industries, Supreme Petro, Tanla Platforms, Oracle Fin, IIFL Finance, Can Fin homes, Syngene International, etc.
Maruti Suzuki
Maruti Suzuki shares closed 0.22% high at ₹8481.30 on BSE on Tuesday. However, the company shares have dropped by 2.76% in the last five days. The auto major reported a significant rise in its net profit in Q3FY23. Its net profit more than doubled to ₹2,351 crore for the third quarter of FY23 compared to ₹1,011 crore in the same quarter a year ago. The profit was mainly driven by better-than-expected sales. Its peer, Bajaj Auto reported healthy net profit earnings in the quarter that ended in March.
Read More: Bajaj Finance Q4 preview: NII growth, PAT, to loan book key highlights here
Bajaj Finance
A day ahead of its Q4FY23 earnings, Bajaj Finance shares closed 2.46% higher at ₹6,078.75 apiece on Tuesday. The NBFC company is expected to present strong growth in the quarter under review. However, there are hints of sustained growth in the upcoming quarters as well.
Also Read: Stocks to Watch: Kotak Bank, Bajaj Auto, Adani Ports, Tata Consumer, Maruti
As per the balance sheet figure disclosed by the company for the quarter ended in March, Bajaj Finance's customer franchise increased by 3.1 million to 69.1 million. With this, it marked the highest-ever surge in its customer franchise. New loans book also surged by 20 % YoY to 7.6 million in Q4FY23.
Market experts are expecting strong NII growth in Bajaj Finance which will be led by robust loan growth. It will also witness strong PPOP growth due to a strong topline and higher operating efficiency.
HDFC Life Insurance Company
Market investors looked apprehensive on HDFC Life's quarterly results, as its shares closed 3.18% down at ₹530.10 apiece on BSE on Tuesday.
A look at its performance in the previous quarter shows that HDFC Life Insurance company reported a 15.19% YoY rise in its standalone net profit to ₹315.22 crore in Q3FY23 from ₹273.65 crore a year ago same quarter. Its net premium income rose by 18.59% to ₹14,379.38 crore compared to ₹12,124.36 crore in Q3 of FY22. The company delivered consistent growth in other key metrics.
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L&T Technology Services Ltd
Ahead of its quarterly results, the share price of L&T Technology Services Ltd dropped by 0.25% to ₹3425.05 on Tuesday.
The company's profit margin grew by 22 per cent YoY to ₹3036 million in Q3FY23. Its net revenue also registered a 21 per cent YoY rise to ₹20,486 million in the previous quarter. Moreover, the company's EBIT margin grew by 18.7% in the December quarter.
Voltas
Reflecting a weak market optimism, Voltas' share price dropped -0.48% to ₹843.60 on BSE on Tuesday. The company may gain profit due to a boost in sales because of the scorching summer. At the same time, the company's sales can be hampered due to rising competition in the market.
The leading air-conditioner maker failed to match the market expectations last in the December quarter, when it reported a net loss of ₹110.5 crore. During the same period in FY22, the company posted a net profit of ₹96 crore. Its sales rose by 11.82% to ₹2,005.61 crore in the December quarter, whereas its EBITDA fell by 51 % to ₹76.37 crore in Q3FY23.
SBI Life Insurance
Stock movement of SBI Life Insurance remained indifferent to the news of its quarterly earnings on Tuesday. The company shares closed with a nominal 0.01 % hike at ₹1104.60 per share on Tuesday.
The insurance company reported a 16.46% drop in its net profit after tax to ₹304.13 crore from ₹64.06 crore in Q3FY22. However, its net premium income also picked up momentum.
