Q3 results today: Avenue Supermarts, five other companies to announce earnings – The Economic Times

Into the third day of the earnings season and behind three dozen results including those of Nifty heavyweights Tata Consultancy Services (TCS), Infosys, HCL Technologies and Wipro, Saturday will be relatively calmer with six companies announcing their December quarter earnings. However, Street will be keeping a track of results of Avenue Supermarts, the company which operates DMart retail stores.Among other results, Gian Life Care and MRP Agro will announce their quarterly earnings.On Friday, HCL Technologies, Wipro and HDFC Life Insurance Company declared their Q3 results. India’s third largest IT company HCL Tech reported its consolidated net profit growth at 6% year-on-year to Rs 4,350 crore for the quarter ended December 2023. It was Rs 4,096 crore in the year-ago period. An ET NOW poll of analysts had anticipated the profit figure at Rs 4,096 crore. Revenue from operations also increased 6% in the said period to Rs 28,446 crore.

Wipro reported disappointing numbers for the quarter ended December, with the consolidated net profit declining nearly 12% year-on-year (YoY) to Rs 2,694 crore. The consolidated revenue dropped 4.4% to Rs 22,205 crore.

HDFC Life posted a consolidated net profit of Rs 367 crore in Q3FY24, up 16% from Rs 316 crore clocked in the corresponding period of last year. Net premium income rose 6% YoY to Rs 15,273 crore.

Avenue Supermarts Q3 Results

Avenue Supermart, which owns and operates retail chain DMart, is expected to report healthy growth in its consolidated revenues, driven by addition of five stores.Revenue for the quarter ended December is seen growing anywhere between 17-18%, according to an average estimate of four brokerages. Meanwhile, net profit is likely to rise around 23% year-on-year. The Board of Directors has declared an interim dividend of Rs 12 per equity share and fixed January 20 as the record date for the same.Read More: DMart Q3 result preview: PAT may rise 23% YoY; gross margins to expand

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