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Street will also keeping a close track on the earnings of ACC, Adani Power, AU Small Finance Bank, Cyient, Equitas Small Finance Bank, Hindustan Petroleum Corporation (HPCL), Indian Energy Exchange, Indraprastha Gas Limited (IGL), KFIntech, Novartis India, SBI Cards and Payment Services, Tata Technologies, Vedanta Limited and Punjab National Bank (PNB).
On Wednesday, 78 companies announced their October-December quarter earnings. Among them were results of two-wheeler major Bajaj Auto along with two other Nifty constituents Tata Steel and Tech Mahindra.
While Tech Mahindra’s consolidated net profit plunged 61% year-on-year (YoY) to Rs 510 crore, Bajaj Auto reported a 37% YoY growth in its standalone net profit at Rs 2,042 crore for the said quarter.
Here’s what to expect from SBI Life and JSW Steel’s earnings
SBI Life Q3 Results
Leading life insurance company SBI Life will report its third quarter results today. The company is expected to post steady numbers, led by a healthy growth in new business premium, while APE (annual premium equivalent) growth is likely to be modest. Profit for the October-December period is seen rising up to 32% year-on-year to Rs 400 crore.
JSW Steel Q3 Results
Steel major JSW Steel is likely to see robust growth in both bottom line and topline figures on a year-on-year basis, but the sequential growth could be subdued. Profit for the third quarter may more than triple over previous year, according to an average estimate of five brokerages. On a sequential basis, the profit could decline up to 57%.
Revenue growth during the reporting period will likely be around 10-14%, while the same could be flattish quarter-on-quarter.
Vedanta Q3 results
Mining major Vedanta is expected to report moderate growth in revenue for the quarter ended December due to muted volumes in aluminium, steel and iron ore segments. However, operating profit is likely to be stronger led by higher commodity prices. The company is expected to report consolidated revenue of Rs 33,676-35,477 crore, according to estimates given by three brokerage firms. This is compared to a revenue of Rs 34,102 crore a year ago and Rs 34,184 crore a quarter ago.
Read more: Vedanta Q3 Result Preview: Higher prices may drive EBITDA; all eyes on debt reduction roadmap
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