The earnings season has begun and many companies are all set to release their quarterly results for the Q1 FY25. Many prominent companies, including TCS, IREDA, DMART, have their board meetings this week to report earnings.
On July 11, 17 companies are planning to release their earnings update for Q1 FY25. These are: Acrow, AFIL, Amal, Anand Rathi, DRC Systems, G.D Trading Agencies, G N A Axles, GTPL Hathway, Marble City India, NELCO, PMC Fincorp, RO Jewels,SM Auto Stamping, Sree Jayalakshmi Autospin, Stellant Securities, Tata Consultancy Services (TCS), and Vivid Mercantile.
According to a Mint report, TCS, India’s largest IT services company, is expected to show revenue growth crossing the numbers in the previous five quarters. There is, however, a potential for a decline in profits and margins. The decline in profits and margins may not disappoint the market. The focus will be on whether it sees improvement in the market conditions, with the high chances of US Fed cutting rates in September. TCS will most likely post a growth in revenue at ₹6,21, 879 million compared to ₹5,93,810 million in the same quarter previous year, the report said, citing estimates from InCred Equities.
TCS’s margin may come under pressure and may decline by 150 basis points due to wage hikes from April 1, 2024.
In the same quarter the previous year, the IT services company reported a 16.84 per cent year-on-year increase in its consolidated net profit, though it was down by 2.8% from the previous quarter.
Companies such as Anandrathi reported profit after tax of ₹4.51 crore in Q1FY24 ,a rise of 16.61% from the same quarter the previous year. GTPL Hathway reported net profit of ₹35.91 crore in Q1 FY24, DRC Systems India reported profit after tax of ₹1.11 crore, a decline of 6.16% from the same time period a year ago.
On July 12, 14 companies, including IREDA, HCL Technologies, and 5paisa capital, are expected to report Q1 results.
