Q3 results today: IndusInd Bank, Polycab among 42 companies to announce earnings
earnings on Thursday along with 41 other companies. After HDFC Bank's results on Tuesday which left the Street unimpressed, investors will be keeping a close watch on the earnings of this fifth largest private bank.
Among other important results that are likely to be tracked closely today include those of Indiamart InterMesh, Mastek, Metro Brands, Polycab, Home First Finance Company, Poonawalla Fincorp, South Indian Bank, Shoppers Stop and Tata Communications.
On Wednesday, Asian Paints reported a 35% year-on-year (YoY) rise in consolidated net profit for the quarter ended December to Rs 1,448 crore. This was higher than the ETNow poll of Rs 1,353 crore. Consolidated revenue from operations grew by 5.4% YoY to Rs 9,103 crore but trailed estimates of Rs 9,356 crore.
LTIMindtree was another Nifty company which reported a consolidated PAT of Rs 1,168.9 crore versus ET NOW poll of Rs 1,175 crore. The IT services company's net profit rose 17% YoY. The same stood at Rs 1,000 crore a year ago.
Read More: IndusInd Bank Q3 result preview: Profit, NII to grow in double digits; asset quality stable
IndusInd Bank Q3 results
Leading private lender IndusInd Bank is expected to report healthy growth in net interest income (NII) for the quarter ended December on the back of solid loan growth.
NII for the third quarter is likely to grow around 16% year-on-year, according to an average estimate of five analysts. The NII growth is likely to be slightly slower than 18% posted in the preceding September quarter. On a sequential basis, NII would rise by a marginal 2%.
Further, an average of four estimates by brokerages indicates that the net profit in October-December is seen growing 11% year-on-year.
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