Q3 results today: Maruti Suzuki, Sun Pharma, Ambuja Cements, Dabur, Bank of Baroda and more
Q3 results today: Approximately 21 companies will release their Q3 quarter results today on January 31
Q3 results today January 31: Investors would be on edge with some of the major companies releasing their Q3 earnings. A slew of companies, including Maruti Suzuki, Sun Pharma, Ambuja Cements, Dabur, Bank of Baroda, Jindal Power & Steel and more, will be the focus today as they release their Q3 results.
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Indian stocks fell on Tuesday as profit-booking in financial, FMCG, pharma, and some IT stocks weighed on sentiment. The Sensex dropped 802 points or 1.11% to close at 71,140, while the Nifty shed 216 points or 0.99 percent to end at 21,522. Both indices had gained about 1.8% on Monday, posting their best session in eight weeks.
The Indian stock market indices, Sensex and Nifty 50, are likely to open flat on Wednesday tracking mixed global market cues ahead of events like the US Federal Reserve meeting outcome and India’s interim budget.
The trends on Gift Nifty also indicate a tepid start for the Indian benchmark index. The Gift Nifty was trading around 21,617 level as compared to the Nifty futures’ previous close of 21,625.
Approximately 21 companies will release their Q3 quarter results today - January 31
Companies that will announce their December-quarter earnings today include Maruti Suzuki India, Sun Pharmaceutical Industries, Shree Cement, Ambuja Cements, Bank of Baroda, Dabur India, Amara Raja Energy & Mobility, Adani Wilmar, Balaji Amines, Dixon Technologies, Fino Payments Bank, GMR Airports Infrastructure, Godrej Consumer Products, IRB Infrastructure Developers, Jindal Steel & Power, Jubilant FoodWorks, Jyothy Labs, Kalyan Jewellers India, Mankind Pharma, PVR Inox, and Suzlon Energy.
Maruti Suzuki Q3 results: Net profit likely to rise over 20%
India's largest carmaker Maruti Suzuki is all set to announce its financial results for the third quarter ended December 31, 2023, on January 31. Analysts from various brokerages anticipate that the company is likely to experience a decline in margins on a sequential basis due to an unfavourable product mix and increased discounts offered during the December quarter.
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According to estimates by brokerage firms, the four-wheeler manufacturer is expected to witness a 21% year-on-year growth in profit, reaching ₹2,838 crore for the October-to-December quarter.
Sun Pharma Q3 Result: To lead with the highest sequential rise in US sales
The favorable trend seen by Indian Pharma companies on earnings growth during the first half of FY24 may continue during the December quarter too. Two key reasons for the same are the continued strong performance of Indian companies in the US markets and healthy growth momentum in the domestic arena.
Analysts at Jefferies India expect the current benign US pricing environment to continue and believe most of their coverage firms will clock sequential sales growth in the quarter. They have factored the highest sequential growth for Sun Pharma (up 8 percent sequentially) as the company will benefit from the seasonality of speciality products, traction in the recently launched generic Vyvanse and surge in sales of Albuterol and Ipratropium combination, as per Jefferies Estimates.
Dabur India expects Q3 revenue in mid-single digit
FMCG major Dabur India said on Friday its consolidated quarterly revenue is expected to report low to mid-single-digit revenue growth, as rural demand continues to remain under pressure. However, the company did see a pickup in demand late in the third quarter.
For the Dabur India business, the firm said it is expected to report low to mid-single-digit revenue growth due to the challenging macroeconomic environment and muted category growths. The healthcare portfolio showed a positive growth trajectory, while the F&B business growth will see some moderation.
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