 "IndusInd Bank to Persistent Systems: Q4 results to watch out for today")
Several banks and other listed companies will declare their financial results for the fourth quarter of the previous financial year (Q4FY23) today. These results will be announced on BSE's official website, as well as the official websites of the companies.
This comes after the top three Indian IT majors (TCS, Infosys and HCLTech), and Reliance Industries (RIL) announced their results last week.
Q4 results to keep an eye on today
IndusInd Bank
The fifth-largest private bank in India will announce its Q4 results on Monday. It has already announced its balance sheet figures for the quarter ending March. During the quarter, the bank's net advances rose 21 per cent year-on-year (YoY) and 6 per cent quarter-on-quarter (QoQ) to Rs 2,89,965 crore. The deposits climbed 15 per cent YoY and 3 per cent QoQ to Rs 3,36,443 crore.
As of December 2022, the bank's gross non-performing assets (NPAs) and net NPA stood at 2.06 per cent and 0.62 per cent respectively.
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The bank's board of directors will also consider dividends for FY23 today.
Nuvama Institutional Equities expects IndusInd Bank to report a 55.5 per cent YoY rise in net profit.
Bank of Maharashtra
The Bank of Maharashtra (BoM) will also declare its Q4 results today. In the quarter ending March 2023, its total advances and deposits rose 21.28 per cent to Rs 4.09 trillion year-on-year (YoY).
The bank's board will also consider fundraising of up to Rs 7,500 crore for FY24.
"In compliance with Regulation 29 (1) (d) and 50 (1) (d) and other applicable provisions of the SEBI (LODR) Regulations, 2015, we wish to inform you that a meeting of the Board of Directors of the Bank is scheduled on Monday, 24th April 2023 at Pune to consider the proposal of raising Capital for the FY 2023-24 aggregating upto ₹7,500 Crore through Follow-on Public offer (FPO)/Rights issue/ Qualified Institutional Placement(QIP) / Preferential issue or any other mode or combination of thereof and /or through the issue of BASEL III or such other securities as may be permitted under the applicable laws subject to necessary approvals," the bank announced in a filing.
According to a report by news agency PTI, in February, BoM emerged as the top performer among state-owned lenders in terms of loan growth percentage during the Q3FY23.
Persistent Systems
IT firm Persistent Systems is another major company that will announce its Q4 results today. In Q3FY23, the company recorded a 32.8 per cent YoY growth in revenue. Its profit after tax (PAT) rose 34.9 per cent.
Motilal Oswal Securities expects the IT firm to report a profit jump of 36 per cent YoY. It sees the firm's revenue growth at 37.2 per cent YoY. Ebit margin is seen at 15.5 per cent against 14 per cent YoY. In Q3, its EBIT margin was 18.5 per cent.
Other major Q4 results to keep an eye on today
Tata Teleservices, Century Textiles & Industries, Tamilnad Mercantile Bank, Mahindra Logistics, IIFL Securities, Nelco, Goyal Aluminiums, and Kshitij Investment are the other companies that will announce their quarterly results today.