Q4 Results Today: Sun Pharma, Grasim, Nykaa Among 32 Firms to Post Earnings

Company Results Q4 FY24: Jubilant, Ramco Cements, NIIT Learning also anticipated to release fourth quarter earnings on May 22

The earnings season for the fourth quarter (Q4) of the financial year 2023-24 (FY24) is in full swing, with 32 companies, including Sun Pharma, Grasim Industries, Jubilant FoodWorks, Nykaa, and Ramco Cements, set to announce their results on Wednesday, May 22. This period is crucial for domestic markets as these announcements are expected to significantly influence stock movements.

Companies such as Avanti Feeds, NIIT Learning Systems, GMM Pfaudler, TeamLease Services, Ashoka Buildcon, DB Corp, Kaveri Seed Company, Unichem Laboratories, GE Power India, Gandhar Oil Refinery, Talbros Automotive Components, Goldiam International, Dhanlaxmi Bank, and Urja Global are also expected to release their Q4 FY24 earnings today.

Sun Pharma is projected to report robust year-on-year (Y-o-Y) growth in its Q4 FY24 financial results, with revenues expected to rise between 8-14 per cent to reach between Rs 11,858 crore and Rs 12,472 crore, according to brokerage estimates. This growth, driven by higher contributions from the generic multiple myeloma drug Revlimid and specialty products in the US, compares favourably to the Rs 10,930 crore revenue recorded in Q4 FY23.

List of 32 Companies to Post Q4 Results on May 22:

Sun Pharma, Grasim Industries, FSN E-Commerce Ventures (Nykaa), Petronet LNG, The New India Assurance Company, Jubilant FoodWorks, Metro Brands, Gland Pharma, Sundram Fasteners, The Ramco Cements, Garden Reach Shipbuilders & Engineers, Minda Corporation, Gujarat Pipavav Port, HEG, Star Cement, Strides Pharma Science, Avanti Feeds, Indigo Paints, NIIT Learning Systems, GMM Pfaudler, TeamLease Services, Ashoka Buildcon, DB Corp, Kaveri Seed Company, Unichem Laboratories, GE Power India, Gandhar Oil Refinery, Talbros Automotive Components, Everest Industries, Goldiam International, Dhanlaxmi Bank, and Urja Global.

Earlier today, Paytm released its fourth quarter earnings report showing the company's losses widening to Rs 549.6 crore from Rs 168.4 crore in the previous quarter. The fintech's financial results were significantly impacted by temporary disruptions related to the Unified Payments Interface (UPI) transition and a more permanent disruption due to an embargo on Paytm Payments Bank. The company reported a marginal 3 per cent increase in revenue Y-o-Y.

On Tuesday, May 21, the S&P BSE Sensex experienced a narrow range of 427 points, closing 53 points lower at 73,953. Meanwhile, the Nifty50 managed to eke out gains of 27 points, ending at 22,529. Notably, the total market capitalisation of all BSE-listed companies touched $5 trillion for the first time during intraday trading, buoyed by a strong rally in metal, power, and Central Public Sector Enterprises (CPSE) stocks.

Analysts remain optimistic about the medium-to-long-term prospects for Indian equities, with expectations that the Sensex and the Nifty will trend higher. This bullish outlook is supported by the Reserve Bank of India's positive economic projections.

Asian markets showed mixed performance, while the US stock market ended higher overnight as investors awaited further cues on interest rate trajectories from US Federal Reserve officials.