The earnings result season for Q1 (April-June) 2024 has commenced with major companies set to report their performance on Thursday in the Indian stock market, marking a significant period for investors and analysts.
According to the Bombay Stock Exchange (BSE), major IT companies in the country will report their financial results for the first quarter of 2024 this week.
Among the notable names, Tata Consultancy Services (TCS) is set to announce its first-quarter performance results on Thursday. In its previous earnings announcement, TCS reported a 9 per cent rise in net profit for the fourth quarter of FY24, achieving Rs 12,434 crore compared to Rs 11,392 crore in Q4 of FY23. This substantial growth has heightened expectations for the company’s first-quarter performance.
Thursday also marks the earnings announcement for Anand Rathi, a financial services firm. The firm’s results will be closely monitored by market participants, given its significant influence in the financial sector. The company’s performance will provide valuable insights into the broader financial services landscape and help gauge the health of the sector in the current economic environment.
Following TCS, other IT giants are scheduled to announce their results in the coming days. HCL Technologies will release its earnings on Friday, July 12th.
LtiMindtree is slated to announce its Q1 2024 results on July 17th. Infosys will reveal its numbers on July 18th, while Wipro is set to report its first-quarter performance on July 19th.
Additionally, Tech Mahindra is expected to announce its Q1 results on July 26th. These announcements are highly anticipated as they will provide a comprehensive overview of the financial health and operational performance of these leading companies.
The earnings season is a crucial period for the stock market, offering insights into the performance and future prospects of listed companies. The results announced by these companies will not only influence their stock prices but also set the tone for the market’s direction in the near term.
Investors and analysts will closely analyze various metrics, including revenue growth, profit margins, and future guidance, to make informed decisions.
As the earnings reports start rolling in, market sentiment will be shaped by the performance of the key players.