Q1 results today on July 20: At least nine companies are set to announce their FY25 first quarter (Q1) financial results today, on Saturday, July 20.
The Q1FY25 earnings season started from July 8 and prominent companies are among those set to declare their Q1 results this week. A host of other prominent companies will release their earnings reports in the coming weeks.
Covering various sectors, the Q1FY25 earnings reports are expected to have a significant impact on stock movements in the BSE and NSE, and offer insights into the broader economic landscape.
Indian markets ended the week on July 19. Nifty 50 closed at 24,530 points, Sensex at 80,604 points. IT stocks led the rally with Nifty IT index reaching a new high of 40,682 points. Infosys reported strong results, fueling optimism in the sector.
Kotak Mahindra Bank, YES Bank, JK Cement, Poonawala Fincorp, RBL Bank, Newton Technologies, Can Fin Homes, ICRA, and Rossari Biotech are among the nine companies expected to report their Q1FY25 earnings reports today, on July 20.
Market experts estimate good numbers are driven by YES Bank's asset quality improvement in Q1 results today. However, despite the positive outlook for the Yes Bank results, shares of the private lender dipped on Friday, just one day ahead of its Q1 results announcement.
According to stock market experts, the dip in Yes Bank's share price can be attributed to lower provisions and reduced operating expenses, which are expected to enhance the Bank's bottom line.
Speaking on Yes Bank Q1 results 2024, Manish Chowdhury, Head of Research at StoxBox, said, “In our opinion, the outlook for Yes Bank remains positive, primarily driven by the improvement in the Bank's asset quality and capitalization over recent years. Despite a temporary weakness in profitability due to higher funding costs, we anticipate Yes Bank will report a good set of numbers for Q1FY25. Lower provisions and a gradual reduction in operating expenses are expected to enhance the Bank's bottom line.”
Profit-booking ahead of key corporate earnings and the budget next week dragged down benchmark indices the most in a month-and-a-half on Friday. Fear gauge India Vix rose to the highest level in over a month.
The Nifty fell 1.09% to 24,530.9 while the Sensex pulled back from the 81,000 mark 0.9% to 80,604.65. Both indices hit fresh record highs – 24,854.8 and 81,587.76-at opening before pulling back and closing marginally off their lows. Broader markets fell twice as much.
“Investors and traders took some money off the table after a one-way rally from 4 June, ahead of Reliance results post market hours Friday, Kotak Mahindra Bank and HDFC Bank on Saturday and the budget on Tuesday,” said Dhiraj Relli, managing director and chief director of HDFC Securities.
