Q1 results 2023: TCS, HCL Tech, Wipro, Tata Steel, others to announce earnings this week | Mint
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Business News/ Markets / Stock Markets/  Q1 results 2023: TCS, HCL Tech, Wipro, Tata Steel, others to announce earnings this week
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Q1 results 2023: TCS, HCL Tech, Wipro, Tata Steel, others to announce earnings this week

Q1 results 2023: Results season for the first quarter of 2023-24 financial year to begin on July 12th with TCS and HCL Tech

Q1 results 2023: Wipro, Tata Steel, Federal Bank, Avenue Supermart, and Rallis India among others to announce their Q1 results this week. Premium
Q1 results 2023: Wipro, Tata Steel, Federal Bank, Avenue Supermart, and Rallis India among others to announce their Q1 results this week.

Q1 results 2023: Company results season for first quarter of the current financial year is going to kick-start on 12th July 2023 with the declaration of Q1 results by Tata Consultancy Services (TCS) followed by HCL Technologies. After announcement of earnings by these IT majors, other IT giant Wipro will declare Q1 results this week on 13th July 2023. Other major companies that are going to declare Q1 results for the financial year 2023-24 are Tata Steel, Federal Bank, Avenue Supermart and Rallis India.

IT companies to take lead in Q1 results 2023

As mentioned above, Q1 results 2023 will begin on July 12th i.e. on Wednesday this week with announcement of Q1 earnings by IT majors TCS and HCL Tech. some other companies are also expected to announce their Q1 results 2023, which includes AKI India, Anand Rathi and 5paisa Capital. On 13th July 2023, another IT major Wipro will declare Q1 results for the financial year 2023-24. So, three majoor IT companies are going to declare Q1 results this week.

Apart from Wipro, some other companies of well repute having substantial trade volume are also going to declare their Q1FY24 results on 13th July 2023, i.e. on Thursday this week. Bhansali Engineering, Federal Bank, Sterling Wilson, Tata Metaliks are among those companies that will declare their first quarter results for the financial year 2023-24.

On Friday this week, listed entities like Tata Steel, CCL Products, Unichem Labs and TTL Enterprises are going to declare their first quarter results for the current fiscal.

On Saturday this week, Radhakishan Damani's Avenue Supermarts is going to declare its first quarter results for the financial year 2023-24. apart from this Radhakishan Damani-owned company, Rallis India and some more companies would declare their Q1 results this week on Saturday.

TCS Q4 results 2023

TCS posted healthy growth in Q4 of FY23, however, it broadly missed the street's expectations for the quarter. TCS PAT growth was below estimates, could not sustain margins and the BFSI segment saw single-digit growth. In Q4FY23, TCS posted 14.8% YoY and 5.03% QoQ growth in consolidated net profit to 11,392 crore. Revenue from operations stood at 59,162 crore up by 16.94% YoY and 1.6% QoQ. Further, the net margins stood at 19.3%, while operating margins came in flat at 24.5%.

HCL Tech Q4 results 2023

HCL Tech's Q4FY23 earnings were broadly in line with estimates. The company witnessed double-digit growth in YoY terms, however, sequentially the performance was feeble. Also, the company recorded a single-digit drop in new deal wins. However, the IT-giant's FY24 guidance looked encouraging. So, market would be eagerly waiting for the better quarterly numbers on sequential or QoQ basis. Overall, HCL Tech's Q4 results were not seen as a shocker.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 10 Jul 2023, 08:57 AM IST
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