IndusInd Bank, ICICI Pru to ICICI Lombard: 15 companies to declare Q1 results today
- Q1 results 2023: Among 15 companies that is going to declare Q1 results today includes IndusInd Bank, ICICI Prudential, ICICI Lombard, Polycab India, CIE Automotive India, etc
Q1 results today: After strong results season in January to March 2023 quarter, stock market investors and observers are quite vigilant in regard to Q1 results 2023. In Q4FY23, Indian companies managed to deliver better numbers at a time when global market was reeling under the heat of economic slowdown. During April to June 2023, Indian economy witnessed stellar GST collection, better than expected GDP numbers, inflation under check, etc.
So, for those who believe in stock specific trade during Q1 results 2023, a total of 15 companies are going to declare their first quarter results for the financial year 2023-24. Among those 15 listed companies, IndusInd Bank, ICICI Prudential, ICICI Lombard, Polycab India, CIE Automotive, etc. are some of the prominent names that have substantial trade volume.
Market is expecting healthy income growth at IndusInd Bank but the Hinduja Group company may continue with its provisioning. But the private lender is expected to give better quarterly results in comparison to its Q4 results in the recently ended financial year (FY23).
IndusInd Q4 results 2023
IndusInd Bank exceeded the Dalal Street's expectations with a standalone net profit of ₹2,040.51 crore for the quarter ended March 2023, an increase of nearly 50 per cent over the number of ₹1,361.37 crore from the previous year. The lender's net interest income totaled ₹4,669.46 crore, up 17 per cent over the previous year. In Q4FY23, the bank's total income increased 16 per cent year-on-year to ₹6,823 crore, while its other income increased 13 per cent on year to ₹2,514 crore.
ICICI Prudential Q4FY23 results
ICICI Prudential Life Insurance Company Ltd (IPru Life) reported strong results for the March quarter (Q4FY23), with its annualized premium equivalent (APE) growing approximately 27 per cent year-on-year (y-o-y), thanks to a favourable product and channel mix. The increase in APE was also supported by sales of high-ticket insurance policies in February and March, following the budget announcement of taxation on life insurance policies with aggregate premiums over ₹5 lakh starting from 1 April. ICICI Prudential management said that healthy business, particularly from traditional savings and annuity product segments, contributed to a robust value of new business growth of 36 per cent YoY in the fourth quarter of FY23.
Polycab India Q4FY23 earnings
In Q4FY23, Polycab India's consolidated revenue from operations stood at ₹4323.68 crore during Q4FY23 up by 9 per cent YoY from ₹3969.98 crore during Q4FY22. The company said its consolidated net profit stood at ₹424.75 crore up by 31 per cent YoY from ₹322.15 crore recorded during the year-ago quarter. The quarterly net profit of Polycab India beats estimates of Prabhudas Lilladher who expected the net profit to stand at ₹397.7 crore.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
- Top Gainers
- Top Losers
- 52 Week High