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On July 15, a total of 36 companies are scheduled to announce their quarterly results. The earnings season began on July 8, with several companies including Tata Consultancy Services, IREDA, and HCL Tech already having announced their results. This week, from July 15 to July 20, several companies such as Reliance, HDFC Bank, Paytm, and Wipro are expected to report their earnings.
Among the companies expected to announce their quarterly results today are Adline Chem Lab, Angel One, Atam Valves, Benaras Hotels, and SpiceJet, just to name a few. It’s a busy week for corporate earnings as companies across various sectors prepare to unveil their financial performance for the quarter.
Jio Financial Services Limited, the financial arm of Reliance Industries, is set to declare its results today. The company made its stock market debut last year and has been steadily growing. In the previous quarter, Jio Financial Services posted a consolidated net profit of ₹310.6 crore, marking a 6% quarter-on-quarter rise in net profit.
SpiceJet, the airline company, will also be announcing its results for Q3FY24, Q4FY24, and the full year FY24. According to reports, SpiceJet has faced significant losses due to the pandemic, totaling ₹5,236 crore over 15 quarters. Despite the challenges, the airline reported a net profit of ₹204.56 crore in the same quarter of the previous year (Q1 FY24), a notable improvement from a net loss of ₹788.83 crore in the corresponding quarter of the previous fiscal year.
HDFC Life Insurance Company is another company to watch as it is expected to report double-digit growth in net profit for the April-June quarter, primarily driven by strong new premium collections from market-linked products. Analysts predict a 13% year-on-year growth in net profit to ₹478 crore for Q1FY25, compared to ₹420 crore in the same quarter of the previous year.
As a part of the ongoing earnings season, various companies are set to announce their financial results, offering insights into the performance of different sectors in India. Stay tuned for more updates as these companies unveil their Q1 results.
