The first quarter earnings season is in full swing, and 34 companies are set to announce their results today. Key results to watch include Hindustan Unilever (HUL), Bajaj Finance, United Spirits, ICICI Securities, and ICICI Prudential Life Insurance.
Other companies like DCM Shriram, Garden Furnace, ICRA, Infobeans Technologies, M&M Financial, Parag Milk Foods, Schaeffler India, and Thyrocare Technologies will also release their earnings.
HUL Q1 Expectations
Hindustan Unilever (HUL), a major FMCG company, is expected to report a net profit for the June quarter in the range of Rs 2,479-2,562 crore. This estimate comes from four brokerage firms. The profit after tax (PAT) growth is anticipated to be between -1% and 2.5% compared to the same quarter last year.
Revenue from operations is expected to be between Rs 14,925-15,451 crore. Kotak Institutional Equities, Prabhudas Lilladher, Axis Securities, and Yes Securities provided these estimates. Axis Securities has the most conservative estimate with a 1% decline in PAT to Rs 2,479 crore, while Prabhudas Lilladher is the most optimistic, expecting a 2.5% increase to Rs 2,562 crore.
In terms of revenue, Prabhudas Lilladher has the highest estimate, while Axis has the lowest. Overall, a flat to 2% year-on-year revenue increase is expected for Q1.
Kotak Institutional Equities predicts that EBITDA (earnings before interest, taxes, depreciation, and amortization) will be around Rs 3,535 crore, a 0.4% increase year-on-year and a 2.9% increase from the previous quarter. Gross margins are estimated at 52%, which would be up by 209 basis points year-on-year and 13 basis points from the previous quarter.
Bajaj Finance Q1 Expectations
Bajaj Finance, a leading non-banking financial company (NBFC), is expected to show strong growth in its core earnings for the first quarter ending June 2024.
Net interest income for the June quarter is likely to grow by 26% year-on-year, based on an average estimate from four brokerage firms. PAT is expected to rise by 16% year-on-year.
The company’s new loans booked during the first quarter increased by 10%, while assets under management (AUM) jumped 30% year-on-year.
Key points to watch in Bajaj Finance’s earnings report include comments on the sustainability of growth momentum and progress on its loan restructuring scheme (LRS).
In the previous quarter (March), Bajaj Finance reported a consolidated net profit of Rs 3,824 crore, up 21% year-on-year, and net interest income increased by 34% year-on-year to Rs 13,320 crore.
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