Q1 Results Today: Nestle and Tech Mahindra Among 76 Companies to Announce Earnings on Thursday

The first quarter earnings season is in full swing, and a total of 76 companies are set to announce their financial results today. Among the notable names are Adani Green, Nestle, DLF, Tech Mahindra, Canara Bank, Ashok Leyland, Go Digit, and Jupiter Wagons.

Other Companies Announcing Results

In addition to the major players, other companies like Adani Energy, Chalet Hotels, Cyient, Glenmark Life, Laurus Labs, L&T Foods, Mahindra Holidays, PNB Housing Finance, Venus Pipes, and Vivanta Industries will also release their results.

Nestle Q1 Expectations

Nestle India is expected to maintain its growth momentum for the quarter ending June 2024. Analysts predict a 9% year-on-year increase in revenue, driven by strong domestic sales and exports. Profit after tax is estimated to rise by 13% compared to the same period last year.

Experts believe Nestle’s EBITDA margin could expand by 90 to 237 basis points, thanks to lower palm oil and milk prices and better operating leverage. Investors will be keen to hear management’s views on demand in urban and rural markets and the impact of raw material costs.

In the previous quarter (March), Nestle India reported a 27% increase in net profit, reaching Rs 934 crore, while revenue from operations grew by 9% to Rs 5,268 crore.

Tech Mahindra Q1 Expectations

Tech Mahindra is anticipated to show modest revenue growth for the quarter ending June 2024, affected by a seasonal dip in its Comviva business. Analysts estimate a 1.6% year-on-year decline in revenue, with sequential growth expected to be between 0.3% and 0.9%.

Despite this, Tech Mahindra’s net profit is projected to jump by 24% year-on-year. However, deal wins are likely to remain low due to ongoing macroeconomic uncertainty, with total contract value (TCV) expected to be around $500 million.

Key areas to watch include management’s comments on demand in the banking and telecom sectors, significant deal wins, and progress on improving profit margins.