BackQ4 results today: Ashok Leyland, Biocon to NMDC - these companies to announce earnings today
Ashok Leyland, Biocon, JSW Energy, NMDC, Akzo Nobel India, Bajaj Electricals, Fortis Healthcare, among others will announce their Q4 results today.
PremiumThe earnings season for the quarter ending March 2023 is in its last legs. The Q4FY23 earnings so far have been in line with street estimates. The results of financials and automobile companies have been encouraging so far, while that of consumer space was in line. Technology sector performance was tepid, and the oil & gas sector reported results above estimates.
In the last one month, the benchmark Nifty index has gained nearly 4% with investors reacting to the domestic Q4 earnings amid global developments.
On Tuesday, a number of companies are slated to announce their earnings for the fourth quarter of FY23. These companies include Ashok Leyland, Biocon, JSW Energy, NMDC, Akzo Nobel India, Bajaj Electricals, Fortis Healthcare, Amara Raja Batteries, Thyrocare Technologies, CMS Info Systems, Dixon Technologies (India), Metro Brands, Dishman Carbogen Amcis, Linde India, Unichem Laboratories, among others.
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Ashok Leyland: Auto major Ashok Leyland is expected to report strong performance in Q4FY23 amid a 26% sequential rise in volumes for the quarter at 59,697 units. With largely stable gross margins amid healthy operating leverage, EBITDA & EBITDA margins for the quarter are seen at ₹1,166 crore & 10% (up 116 bps QoQ), respectively. Net profit for the quarter is seen at ₹678.5 crore as against ₹361.3 crore in Q3FY23, as per ICICI Direct.
Biocon: The company’s net profit is likely to remain stable while revenue is expected to see robust growth of around 50%. Operating profit may also expected to rise by around 40% and margin may expand by 50 bps, analysts said.
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