Reliance Industries: The company reported its December quarter results along expected lines. Its telecom and retail segments contributed significantly to revenue and EBITDA, while oil-to-chemicals revenue declined on lower price realisation led by a decline in average Brent crude oil prices, the company stated in exchange filings. Its consolidated PAT for Q3FY24 rose 10.9 % year-on-year (YoY) to ₹19,641 crore, compared to PAT of ₹17,706 crore (adjusted to reflect the demerger of the financial services business), in the same quarter last year.
RIL's gross revenue rose by 3.2 % YoY to ₹2,48,160 crore led by continued growth momentum in consumer businesses. ICICI Bank: The country's second largest private lender is likely to report a 20 percent year-on-year (YoY) growth in standalone net profit at ₹9,946 crore for the thrid of the FY24, on Saturday, January 20. According to a poll of brokerages, net interest income is set to rise 12 percent from the year-ago period to ₹18,431 crore.
The consensus view among most brokerages is that ICICI Bank will be better of all along with IndusInd Bank. If the numbers meet Street expectations, then it will come as a big relief after HDFC Bank's disappointing quarter. Kotak Mahindra Bank: The private lender is expected to reported a 16 percent year-on-year increase in standalone net profit at ₹3,243 crore for the quarter ended December 2023.
A poll of brokerages shows net interest income to come in at ₹6,434 crore, jumping 14 percent from the year-ago period, when it reports its results on January 20. This will be the bank's first quarterly results announcement with Ashok Vaswani at the helm. Adani Group: The infrastructure conglomerate has released pledged shares worth ₹2,878 crore
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