Three major companies will be in focus in the stock exchanges’ holiday-shortened week ahead of their Q4 results for FY23. These are among the top five most valuable firms such as Tata Consultancy Services (TCS), Infosys and HDFC Bank. IT and banking sectors will see an inflow of investors amid their quarterly financial performance. Since these three companies are top in their respective segments, buying and selling in other respective stocks can be seen accordingly. Other companies will follow suit to announce their Q4 results.
the fourth quarterly FY23 results are for the period of three months between January to March 2023.
hdfc bank shares last week 1,666.30 each BSE An increase of over 0.7%. On the other hand, Infosys and TCS closed marginally lower or below 0.5% 1,422.10 each and 3,221.70 respectively.
TCS:
The Tata group-backed TCS is India’s largest IT firm. This will kick start the fourth quarter earnings season for India Inc with its financial results on April 12.
TCS posts net profit in December 2022 quarter 10,846 crore to the shareholders on a consolidated basis by 11.02% YoY and 3.98% QoQ. Net margin for the quarter stood at 18.6%, while operating margin contracted by 0.5% YoY to 24.5%.
On the other hand, TCS’ consolidated revenue from operations 58,229 Crore growing by 19.11% YoY and 5.28% QoQ. In constant currency terms, revenue growth was 13.5% YoY, driven by business in North America and the UK. TCS’s order book stood at $7.8 billion as of December 31, 2022, from $8.1 billion in 2QFY23.
Infosys:
Coming close to its rival, the second largest IT firm, Infosys will announce its Q4FY23 earnings on April 13.
In Q3FY23, the company reported a consolidated net profit of Rs. 6,586 in Q3FY23 growing 13.4% YoY and 9.4% QoQ. Meanwhile, revenue from operations came in 38,318 crore in Q3FY23 growing by 20.2% YoY and 4.9% QoQ.
For the third quarter, Infosys highlighted a strong Q3 performance with year-on-year growth of 13.7% and sequential growth of 2.4% in constant currency. Year-over-year growth was in double digits in constant currency terms for most business segments and geographies. Large deal TCV for the quarter was the strongest in the last 8 quarters at $3.3 billion. Digital comprised 62.9% of total revenue and grew 21.7% in constant currency. Operating margin for the quarter remained flexible at 21.5%.
HDFC bank:
The private lender will be the first one in the banking sector to announce its Q4 results. It will be announced on 15 April.
HDFC Bank has already released its balance sheet performance for the fourth quarter of FY2023.
In the quarter ended March 31, 2023, HDFC Bank received advances of approx. 16,005 billion — growing by 16.9% 13,688 billion in the same quarter last year. while growth stood at 6.2% in advances 15,068 billion in the December 2022 quarter.
During this, stick to bank deposits 18,835 billion in Q4FY23, growing by 20.8% as compared to 15,592 billion in Q4FY22. In addition, it registered a growth of 8.7% from deposits 17,332 billion in the previous quarter.
During Q3FY23, the bank reported a net profit of Rs. 12,259.50 crore up by 18.50% YoY, while its net interest income grew by 24.60% YoY 22,987.9 crores. Gross non-performing assets stood at 1.23% at the end of December 2022 quarter, as against 1.26% in the same period a year ago. Net non-performing assets stood at 0.33% of net advances as on December 31, 2022.
Other Q4 losers will be Delta Corp, Jai Mata Glass, Tierra Agrotech, Anand Rathi, Dharani Sugars & Chemicals, National Standard (India), Sanathnagar Enterprises, Amalgamated Electricity, Avantel, Roselabs Finance and Galactico Corporate Services.
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