These top 10 companies released Q4 results this week: Key takeaways

The March quarter (Q4) numbers of Indian companies have come out mixed so far. On Friday, April 19, over a dozen companies across segments reported their Q4FY24 numbers among which Wipro, Jio Financial, Hindustan Zinc and HDFC Asset Management Company were in focus of market participants.

IT major Wipro's numbers were subdued, while Jio Financial reported broadly flat growth in earnings sequentially. Hindustan Zinc, too, reported a decline in revenue and net profit year-on-year.

HDFC Bank is scheduled to report its March quarter earnings on Saturday, April 20. Let's take a look at the Q4FY24 scorecard of some of the top companies that released quarterly earnings reports this week:

Infosys

Infosys reported its March quarter results on April 18. Its consolidated revenue from operations in Q4 declined 2.3% QoQ to ₹37,923 crore against ₹38,821 crore in the December quarter of the last financial year. Profit for the period jumped 30.5% to ₹7,975 crore from ₹6,113 crore QoQ. Infosys shared ended with a loss of 0.56% in the following session on April 19.

Bajaj Auto

Bajaj Auto, in its Q4 results released on April 18, reported 18% YoY increase in consolidated net profit to ₹2,011.43 crore in the March quarter. The automaker’s total revenue from operations jumped 29.4% YoY to ₹11,554.95 crore. The market, however, looked unimpressed with the Q4 numbers as the stock fell 2.40% on April 19.

HDFC Life Insurance Company

The company's consolidated profit after tax grew 14% YoY to ₹411.64 crore from ₹361.97 crore in the corresponding quarter last year. Net premium income for the quarter stood at ₹20,533.71 crore against ₹19,468.6 crore in Q4FY23, marking an increase of 5.5%. The stock rose 0.55% on April 18 but saw profit booking in the following session as it ended 1.12% lower on the NSE on April 19.

ICICI Securities

In its earnings report released post market hours on April 18 the company reported a 74% YoY jump in total revenue from operations to ₹1,543.17 crore in Q4FY24 against ₹884.78 crore in the corresponding quarter last year. Profit for the period jumped 104% YoY to ₹536.53 crore in March quarter against ₹262.68 crore in the same quarter last year. The stock closed 1.33% higher on April 19.

Tata Communications

The Tata Group company’s consolidated income from operations jumped 24.6% YoY to ₹5,691.70 crore against ₹4,568.66 crore in Q4FY23. Profit declined 1.6% to ₹321.52 crore from ₹326.64 crore YoY.

The stock fell 1.57% on April 18, a day after the Q4 result announcement. It extended losses and fell 5.33% on April 19. The stock has been in the negative for the last eight consecutive sessions.

ICICI Lombard General Insurance Company

The insurance provider reported its March quarter numbers on April 17. For the quarter under review, the company earned a net premium of ₹4,368.25 crore against ₹3,726.03 crore, marking a year-on-year (YoY) rise of 17.23%. The company's profit after tax (PAT) for the quarter rose nearly 19% YoY to ₹519.50 crore against ₹436.96 crore in the same quarter last year. The company announced a final dividend of ₹6 at the rate of 60% of face value of ₹10 each for FY24. The market reacted positively to the company's results as the stock rose 4.51% on April 18. However, it saw some profit booking in the next session and ended 2% lower on April 19.

Wipro

The IT major reported its Q4 results on April 19. Consolidated revenue from operations stood almost flat QoQ at ₹22,208.3 crore for Q4FY24 against ₹22,205.1 crore in Q3FY24. Profit for the period under review rose nearly 6% QoQ to ₹2,858.2 crore against ₹2,700.6 crore in Q3FY23. The IT firm expects the revenue from its IT services business to be in the range of $2,617 million to $2,670 million, or (-)1.5% to +0.5% in constant currency terms, for Q1FY25. Shares of Wipro ended 1.74% higher at ₹452.10 apiece on NSE on Friday.

Jio Financial Services

The company reported a modest rise in revenue and profit numbers on a quarter-on-quarter basis. Total revenue from operations for the quarter ended March 31, 2024, stood at ₹418.10 crore, an increase of just 1% from ₹413.61 crore reported in Q3FY24. Profit for Q4FY24 stood at ₹310.63 crore, up nearly 6% QoQ against ₹293.82 crore in Q3FY24. Shares of the company closed with a loss of 2.22% at ₹370 apiece on Friday.

Hindustan Zinc

The company's consolidated revenue from operations for Q4FY24 fell 12% YoY to ₹7,285 crore due to significantly lower zinc and lead prices and lower lead volume. In the same quarter last year, the company's revenue was ₹8,281 crore.
Net profit for Q4FY24 plunged 21% YoY to ₹2,038 crore against ₹2,583 crore in Q4FY23. EBITDA for the quarter at ₹3,637 crore, declined 14% YoY. Hindustan Zinc, as per its exchange filing, is now the world's third-largest silver producer and has the second-largest zinc reserves and resources globally. Hindustan Zinc share price ended 1.72% lower on Friday at ₹398 apiece on the NSE.

HDFC Asset Management Company

Consolidated revenue from operations jumped 28.6% YoY to ₹695.43 crore against ₹540.95 crore in the same quarter last year. Profit after tax (PAT) jumped 43.8% to ₹540.84 crore in comparison to ₹376.17 crore in the same quarter last year. On Friday, the stock closed with a loss of 1.71% at ₹3,708.