Q1 results: Reliance, Infosys, HDFC Life among firms to declare earnings this week

First-quarter earnings season has begun this month, with major IT companies like TCS and HCL Tech announcing their Q1 results last week. This week, a slew of the top companies are scheduled to declare their performances for the first quarter of FY 2024-25.

As many as 147 companies are set to declare their Q1 results this week between July 15 and July 20:

Here, we look at some of the major companies that will declare their Q1 results this week for the fiscal 2024-25:

HDFC Life Insurance Company

The private life insurance major is set to declare its Q1 FY25 result today. According to experts, the company is expected to deliver double-digit net profit (13% YoY) in the first quarter of FY25, propelled by robust new premium collections from market-linked products. It's likely to clock ₹478 crore in net profit in Q1 FY25, compared to ₹417 crore in Q1 FY24. Experts predict that a healthy increase in the value of new business (VNB) will boost the insurer's profit growth.

According to experts, HDFC Life Insurance’s gross premium income is also expected to rise by 22.2% to ₹18,650 crore due to a 26.5% jump in first-premium income (first payment made by policy buyers).

The company's stock shrank over 6% during the April-June period this year, compared to a 7% rise in the benchmark Nifty 50 index.

Jio Financial Services

Reliance Group company Jio Financial Services will declare its Q1 FY25 results on July 15, 2024. Experts forecast that Jio Financial Services is likely to deliver robust Q1 FY24-25 operating income numbers. The company is also expected to post a sound QoQ PAT (profit after tax) in the reported quarter.

Jio Financial Services posted revenue of ₹418 crore in the quarter ending March 31, 2024, while it was ₹414 crore in the quarter ending December 31, 2023. The company recently got approval from the RBI to become a core investment entity.

Bajaj Auto

Among the major Indian auto companies, Bajaj Auto will declare its first quarter results on July 16, 2024. Industry experts forecast a revenue growth of 16% for Bajaj Auto to ₹12,508 crore and its net profit to surge 17% YoY to ₹2,146 crore. It is based on the two-wheeler giant’s 7.3% YoY growth in domestic and export volumes in Q1 FY25. The company’s EBITDA margin is also estimated to expand by 100 bps YoY to 20.1% due to lower input costs, improved mix and operating leverage benefits.

Bajaj Auto reported revenue of ₹11,555 crore and a net profit of ₹2,011 crore in the quarter ending March 2024.

CRISIL Ltd.

India’s premier rating agency, CRISIL Ltd., will announce its second-quarter results on July 16. The ₹ 31,659-crore market-cap company posted revenue of ₹738 crore in the quarter ending March 31, 2024, and its net profit was ₹138 crore.

The company also announced that its board will meet on July 15 & July 16, 2024, to approve its interim dividend for shareholders. The company has set July 31, 2024, as the record date for the interim dividend for the financial year ending December 31, 2024. If the board approves it, eligible shareholders will receive the dividend payout on August 12, 2024.

Infosys Ltd.

Indian tech giant, Infosys Ltd. is set to declare its Q1 FY 2024-25 results on July 18, 2024. Experts believe that the trend in the IT sector is likely to continue after two other Indian tech majors, TCS and HCL Tech beat market estimates in the previous week’s results. According to experts, Infosys is expected to post a sequential revenue growth of 2.5% in its Q1 FY25 results. It is because the company bagged several mega deals and also the effect of 100 bps on revenues in the quarter ending March 2024 etc.

Market experts expect Infosys to continue its revenue growth guidance at 1-3% and the EBIT margin guidance band of 20-22% in the upcoming Q1 FY 24-25 results this week.

JSW Steel Ltd.

Steel producer, JSW Steel Ltd. will declare its April-June 2024 quarter results on July 19, 2024. Market experts predict the steel company’s net profit to shrink by 38.3% YoY to ₹1,300 crore for Q1FY25 compared to ₹2,300 crore in the corresponding quarter the year ago. Another estimate by experts forecasts a flat net sales at ₹42,200 crore for the reported quarter. There is also an expectation of its margin improvement QoQ, driven by reduced coal cost.

Bharat Petroleum Corporation Ltd.

Public sector company, Bharat Petroleum Corporation Ltd (BPCL) is scheduled to declare its Q1 FY25 financial results on July 19, 2024. According to estimates by market experts, BPCL may report a 68.8% YoY slump in its net profit at ₹3,300 crore for Q1FY25 compared to ₹10,550 crore in the year-ago quarter. The net sales are also predicted to fall 10.1% YoY to ₹1,01,540 crore in the reported quarter against ₹1,12,980 crore in the corresponding quarter in the previous year.

Reliance Industries

The energy-to-telecom conglomerate will announce its earnings for the first quarter of FY25 on July 19. According to experts, Reliance Industries could report low single-digit revenue growth for the June quarter on a yearly basis. Also, the company’s top line, bottom line, and operating profits are expected to decline sequentially.

Investors will watch out for Reliance Industries Q1 consolidated revenue growth and segment-wise revenue of Retail and telecom business. So far in 2024, Reliance Industries shares have given investors a decent return of 23.3%.

Wipro Ltd.

Indian MNC major Wipro will declare its first quarter results on July 19, 2024. The company reported revenue of ₹22,208 crore in the quarter ending March 2024, down from ₹23,190 in the same quarter the previous year. Its net profit was ₹2,858 crore in the previous quarter, down 7.6% YoY.

In June 2024, the company announced that it had clinched a $500 million deal with a leading US communication service provider.

Apart from these major companies releasing their first quarterly results for the financial year 2024-25, Other big names that will declare their results this week include Union Bank of India, ICICI Lombard General Insurance Company, Kotak Mahindra Bank, Yes Bank, J. K. Cement, Blue Dart Express, L&T Finance, Network 18 Media & Investments, Just Dial, TV18 Broadcast, Asian Paints, Havells India, Tata Technologies, Ceat, etc.