Q1 results: TCS, DMart, Indian Bank among 31 companies with four straight quarters of profit growth

The first-quarter earnings season is underway, and the companies that have reported their numbers so far have largely met or surpassed estimates, analysts noted.

Tata Consultancy Services, Indian Bank, Bank of Maharashtra, LTM, L&T Finance, Anand Rathi Wealth, GM Breweries, Just Dial, Avenue Supermarts and Elecon Engineering Company are among the 31 companies which have reported consistent net profit growth over the last four quarters in April-June period, data from Ace Equity showed.

On a consolidated basis, it reported a net profit of ₹13,349 crore.

Its revenue from operations advanced 14% to ₹72,275 crore at the end of the first quarter from ₹63,437 crore in the year-ago period.

The company earned $2.6 billion in revenue from providing artificial intelligence (AI) services, marking a sequential increase of 14%.

On a consolidated basis, DMart reported a net profit of ₹861 crore in the first quarter of the current financial year, up 11% from ₹773 crore in the same period last year.

Its revenue from operations in the April-June period advanced 15% to ₹18,795 crore from ₹16,360 crore in the year-ago period.

Avenue Supermarts posted stable operational performance as its earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 15% to ₹1,499 crore and its EBITDA margin came in at 7.98%.

The bank's net interest income, or the difference between interest earned on loans and expended on deposits, surged by 17% to ₹7,435 crore compared with ₹6,359 crore in the year-ago period.

Indian Bank's provisions for bad loans dropped to ₹376 crore at the end of the first quarter compared with ₹748 crore in the previous quarter and ₹387 crore in the year-ago period.

In the previous quarter, the bank's net profit came in at ₹2,014 crore, and in the third quarter of the previous financial year, the net profit came in at ₹1,779 crore.

The company's profit has been increasing from ₹102 crore in the previous quarter, ₹100 crore in the December quarter, and ₹98 crore in the September quarter of the previous financial year.