IOC, Nazara Tech to SBI Card — 54 companies to declare Q1 results today
Q1 results today: Amid falling Indian stock market, experts are advising intraday traders to focus on stock specific strategy instead of index or sector specific approach. Hence, Q1 results 2023 are going to become important for intraday trading as it would directly inform about the fundamentals of the listed entity for short to medium term. For intraday traders, it would be important for them to know that 54 listed companies are going to declare their Q1 results 2023 during working hours on Friday.
Those 54 listed companies include Indian Oil Corporation, Nazara Technologies, Marico, SBI Cards & Payment Services, Mahindra & Mahindra Financial Services, Star Health & Allied Insurance Company, UCO Bank, Bank of India, Piramal Enterprises, Exide Industries, Mangalore Refinery and Petrochemicals, Equitas Small Finance Bank, Chalet Hotels, Route Mobile, DCB Bank, etc. Market is already expecting good quarterly numbers from banking companies due to high interest rate regime for the last two quarters. They are expecting improvement in margins and NIMs due to high deposits during high interest rate regime.
IOC reported 52 per cent jump in consolidated net profit to ₹10,841.23 crore for the quarter ended March 2023. This is against a net profit of ₹7,089.18 crore in the corresponding quarter last fiscal. The consolidated revenue from operations rose by 10 per cent to ₹2,30,711.56 crore in the quarter under review from ₹2,09,045.44 crore in the year ago period.
SBI Card reported a rise of 2.7 per cent to ₹596.5 crore for the quarter ended 31 March, 2023. This was against a net profit of ₹581 crore in the corresponding quarter last fiscal. The total income increased by 30 per cent to ₹3,917 core in March quarter as compared to
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