HDFC Asset Management Company and Network18 Media and Investments are among 11 companies that will report earnings for the third quarter (Q3) of fiscal year 2024-25 (FY25) on Tuesday. Shoppers Stop, an Indian department store chain, and SRM Energy, a textile manufacturer, will also provide performance reports for the quarter ending December 31, 2024.
HCLTech, India's third-largest IT services business, posted a net profit of Rs 4,591 crore for the October-December quarter of FY25. This represents a 5.5% increase over the same period last year, and an 8.4% increase over the preceding quarter. The company's revenue for the quarter was Rs 29,890 crore.
Based on its good performance, the Noida-based company increased its FY25 revenue growth target, lifting the lower end of the range to 4.5-5 percent. IT and business services accounted for the majority of the increases, increasing by 5.8 percent year on year. However, the HCLSoftware section fell 2.1%, while the engineering and research and development (ER&D) division increased only 1.1%.
Operating margins for the quarter were 19.5%, with pay increases affecting margins by 80 basis points.
Market Preview
The benchmark equity indices, BSE Sensex and NSE Nifty50, began the week on a dismal note, finishing with losses of more than 1% each on Monday. The 30-share Sensex fell 1,031.65 points (1.35 percent) to finish at 76,347.26, after ranging between a high of 77,128.35 and a low of 76,249.72 throughout the day. Similarly, the NSE Nifty50 dropped 345.55 points (1.47 percent) to settle at 23,085.95.
- On Monday, it reached a high of 23340.95 and a low of 23,047.25.
- On Tuesday, the Nifty was trading above 23,150 during the pre-open.
List of corporations that will release Q3 FY25 earnings on January 14:
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Atishay Limited
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Benaras Hotel Limited
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Golkunda Diamonds and Jewellery Limited
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Hathway Cable and Datacom Limited
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HDFC Asset Management Company Limited
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Network18 Media And Investments Limited
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Shree Pushkar Chemicals & Fertilizers Limited
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Sita Enterprises Limited
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SRM Energy Limited
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Swasti Vinayaka Arts And Heritage Corporation Limited
