Saturday, May 18, 2024

TCS, Infosys, HDFC Bank are 3 major Q4 results to watch out this week

Three major companies will be in focus in the holiday-shortened week of stock exchanges ahead of their Q4 results for FY23. These are among the top five most valued firms namely Tata Consultancy Services (TCS), Infosys, and HDFC Bank. The IT and banking sectors will witness flows from investors amidst their quarterly financial performance. Since these three firms are the top heavyweights in their respective segments, Buy and Sell can be seen accordingly in other related stocks. Other companies will follow suit in announcing their Q4 results.

The fourth quarterly results of FY23 is for the three-months period between January to March 2023. 

Last week, HDFC Bank shares closed at 1,666.30 apiece on BSE up by over 0.7%. On the other hand, Infosys and TCS ended by marginally lower or below 0.5% to 1,422.10 apiece and 3,221.70 apiece respectively.

TCS:

This Tata Group-backed TCS is the largest IT firm in India. It will kick start the fourth quarterly earning season for India Inc on April 12th with its financial results. 

In December 2022 quarter, TCS garnered a net profit of 10,846 crore attributable to shareholders on a consolidated basis up by 11.02% YoY and 3.98% QoQ. The net margin stood at 18.6% for the quarter, whereas the operating margin stood at 24.5% contracting by 0.5% YoY.

On the other hand, TCS consolidated revenue from operations came in at 58,229 crore increasing by 19.11% YoY and 5.28% QoQ. In terms of constant currency, the revenue growth was at 13.5% YoY driven by business in North America and the UK. TCS’ order book stood at $7.8 billion as of December 31, 2022, versus $8.1 billion in 2QFY23.

Infosys:

Following close to its rival, the second largest IT firm, Infosys will announce its Q4FY23 earnings on April 13.

In Q3FY23, this company registered a consolidated net profit of 6,586 in Q3FY23 rising by 13.4% YoY and 9.4% QoQ. Meanwhile, revenue from operations came in at 38,318 crore in Q3FY23 increasing by 20.2% YoY and 4.9% QoQ.

For the third quarter, Infosys highlighted strong Q3 performance with year-on-year growth at 13.7% and sequential growth at 2.4% in constant currency. Year-on-year growth was in double digits for most business segments and geographical regions in constant currency terms. Large deal TCV for the quarter was the strongest in the last 8 quarters at $3.3 billion. Digital comprised 62.9% of overall revenues and grew at 21.7% in constant currency. The operating margin for the quarter remained resilient at 21.5%.

HDFC Bank:

The private lender will be the first to announce its Q4 results in the banking sector. It will be announced on April 15.

HDFC Bank has already released its balance sheets performance for Q4FY23.

In the quarter ending March 31, 2023, HDFC Bank garnered advances of approximately 16,005 billion — rising by 16.9% from 13,688 billion in the same quarter last year. While the growth stood at 6.2% from advances of 15,068 billion in the December 2022 quarter.

Meanwhile, the bank’s deposits stood at 18,835 billion in Q4FY23, rising by 20.8% compared to 15,592 billion in Q4FY22. Also, it posted a growth of 8.7% from deposits of 17,332 billion in the preceding quarter.

During Q3FY23, the bank reported a net profit of 12,259.50 crore up by 18.50% YoY, while its net interest income picked up by a whopping 24.60% YoY to 22,987.9 crore. Gross non-performing assets were at 1.23% by end of the December 2022 quarter, as against 1.26% in the same period a year ago. Net non-performing assets were at 0.33% of net advances as on December 31, 2022.

Other Q4 results would 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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