Quarterly results are one of the most important things that stock market watchers and buyers pay close attention to because they give them a clear idea of how the listed company is doing financially. The results of a company also show how likely it is to grow in the future during management direction. So, people who are eagerly awaiting the Q1 results today should also keep a close eye on the management guidance that will happen in the next one to two days.
After TCS and HCL Technologies reported their first-quarter earnings, the Indian stock market is waiting for Wipro, another big IT company, to report its quarterly earnings for the financial year 2023-24. Wipro Ltd is going to announce its Q1 results for 2023 today. However, there are other company results expected today, so people should also keep an eye out for them. Today, companies like Federal Bank, Angel One, Bhansali Engineering, Sterling Wilson, Tata Metaliks, Unitech, etc. will also announce their Q1 results for the first quarter of the current fiscal year.
Wipro Q1 results 2023
For the quarter ending March 31, 2023 (Q4FY23), Wipro had a mixed result in terms of making money. In Q4FY23, the IT giant had a combined net profit of 3,074.5 crore, which was a couple of crores less than the same time last year, when it made 3,087.3 crore. But Q4 PAT went up by 0.71 percent from the previous quarter’s figure of 3,052.9 crore. These earnings were made by the people who owned the business.
Federal Bank reports for Q4FY23
Compared to the same quarter last year, Federal Bank’s combined net profit jumped by 62.4% to 953.91 crore in the fourth quarter of the previous financial year. The private sector bank had consolidated total income of 5,780.78 crore in the quarter from January to March 2023. This was up 38.6% from 4,170.55 in the same quarter of FY22.
TCS Q1 results 2023
IT giant Tata Consultancy Services (TCS) Ltd announced its Q1 numbers for the current fiscal year on Wednesday. In Q1FY24, TCS’s consolidated net profit (which goes to the company’s owners) rose by 16.84% year over year to 11,074 crore. In the same time period in the previous fiscal year, the company made a profit of 9,478 crore. TCS’s combined net profit was down 2.8% from the previous quarter.
The Q1FY24 numbers for HCL Tech
HCL Tech released its results for the April-June quarter on Wednesday. It said that its turnover rate dropped to 16.3% from 19.5% in the March quarter of the previous fiscal year. As of June 2023, the company had a total of 2,23,438 employees, which was a drop of 2,506 from the previous month.