Over the halfway mark into the earnings season, 270 companies will be announcing their December quarter earnings on Thursday with Street tracking the results of food delivery platform Zomato and state-run insurer Life Insurance Corporation (LIC) along with one by Grasim Industries.
Among other important results will be those by Aarti Industries, Balmer Lawrie, Balrampur Chini Mills, Mrs. Bectors Food Specialities, Biocon, CarTrade Tech, Concord Biotech, Escorts Kubota, Honeywell Automation, IRCON International, JK Lakshmi Cement, Max India, The Ramco Cements, Rail Vikas Nigam (RVNL), United Breweries and Venky’s.
On Wednesday, nearly 190 companies announced their earnings viz. Nestle India, Power Grid, Tata Consumer Products and Trent.
FMCG major Nestle India on Wednesday reported a net profit of Rs 656 crore for the quarter ended December 2023, which is up 4% year-on-year (YoY) from Rs 628 crore posted in the same quarter last year. Revenue from operations rose 8% YoY to Rs 4,584 crore in the reporting fourth quarter.
Meanwhile, Tata Consumer’s consolidated net profit missed estimates in the third quarter, falling 21% to Rs 279 crore. It was Rs 352 crore a year ago. Revenue from operations increased 9% YoY to Rs 3,804 crore in the December quarter. The same stood at Rs 3,474 crore in the last year quarter.
As for Trent, the fashion retailer posted a 124% jump in consolidated net profit to Rs 374.36 crore versus PAT of Rs 167 crore in the year-ago period. The company reported a revenue of Rs 3,686 crore, up 50% YoY from Rs 2,460 crore reported by the company in Q3FY23.
Here’s what to expect from Zomato results
Zomato Q3 results
Online food delivery platform Zomato is expected to report steady earnings for the quarter ended December with improvement in core earnings on the back of festive demand, World Cup and increased share of Gold programme orders.
Net profit for the third quarter is likely to improve further to Rs 64.6 crore quarter-on-quarter. The company had posted a loss of Rs 34 crore in the year-ago period.
Revenue for the same period is seen growing up to 61% year-on-year, according to an average estimate of four brokerages.
Analysts further see the company’s quick commerce arm is expected to show strong growth during the December quarter. Investors will keep an eye for the outlook on growth, margin sustainability and Blinkit.
Also Read: Zomato Q3 Results Preview: Revenue seen growing 61% YoY; profit to improve
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