Q1 results today: Maruti, M&M among 115 companies to announce earnings on Wednesday
Maruti, M&M, Coal India, Adani Power, Tata Steel, Ambuja and Bank of Baroda.
Apart from the above, companies like Aster DM Healthcare, Barbeque Nation, Deccan Healthcare, Dynamic Cables, IIFL Securities, Mankind Pharma, The Phoenix Mills, Thomas Cook, ZEE among others will also declare their first quarter results.
M&M Q1 expectations
Mahindra and Mahindra is expected to report healthy growth in its revenues for the first quarter ended June 2024, driven by tractor and automotive segments. Meanwhile, profits are likely to be muted.
Revenue from operations may increase 16% year-on-year (YoY), according to an average estimate of four brokerages, while net profit is likely to be flat or seen declining up to 14% YoY.
M&M reported volume growth of 13% YoY in autos and 6% YoY in tractors, leading to an overall volume growth of 11% YoY during the quarter.
Maruti Suzuki Q1 expectations
India's leading automaker Maruti Suzuki is expected to report stable revenue growth in the first quarter that ended June 2024, while profitability is seen as solid.
Revenue from operations during the April-June 2024 quarter is likely to grow 7% year-on-year, according to an average estimate of four brokerages. The growth will be led by an increase in volumes though the average selling price (ASP) growth is expected to remain flat.
The company has posted 5% YoY growth in volumes driven by visible traction in UVs (utility vehicles) even as entry-level models declined.
Net profit for the reporting period may jump 30% YoY, an average
