RIL Q4 Results Highlights: Reliance Industries posted its fourth quarter earnings for the financial year 2023-24 with consolidated profit at Rs 18,951 crore, down 1.8 per cent in comparison to Rs 19,299 crore during the fourth quarter of FY23.
With the likes of Wipro, Infosys, TCS, HDFC Bank, Jio Financial, already having released their earnings for the quarter ended March 31, 2024, the Q4 earnings season is now picking up pace after Reliance Industries Ltd (RIL) released its quarter numbers today.
Investors were today keen on the performance of players like RIL, Hatsun Agro Products, Mahindra Logistics, KP Energy, Aditya Birla Money, among others. Meanwhile, the street is also keeping a watch on how stocks are performing for the companies that have already released their earnings for the period.
The coming week will witness announcements from the likes of Axis Bank, ICICI Prudential Life Insurance, Mahindra & Mahindra Financial Services, Tata Elxsi, along many others.
RIL Q4 Results Today: In a regulatory filing earlier, RIL had said, “A meeting of the Board of Directors of the Company is scheduled to be held on Monday, April 22, 2024, to consider and approve the standalone and consolidated audited financial results of the Company for the quarter and year ended March 31, 2024.”
The shares of Reliance Industries traded marginally higher on Monday, April 22, ahead of the company’s quarterly results for quarter and financial year ending March 31, 2024.
In terms of stock performance, Reliance Industries shares have demonstrated positive returns across multiple time frames. Over the past month, the stock has given a 2% return, showcasing its stability and growth potential. The last six months have seen even more impressive results, with an increase of 31%.
Shares of HDFC Bank fell over 1% to an intraday low of Rs 1,513.65, compared to its previous close of Rs 1,531.30, after the company reported its Q4 results. The company has touched its 52-week low of Rs 1,363.55 on February 14, while it hit its 52-week high of Rs 1,757 on July 03, 2023.
On April 20, HDFC Bank posted lower-than-expected growth in its net profit impacted by higher provisions. The net profit grew by 37 per cent year-on-year at Rs 16,512 crore in the fourth quarter of 2023-24. The private lender witnessed healthy loan growth as its total advances increased by 55 per cent year-on-year to Rs 24.84 trillion as of March-end, while total deposits grew 26 per cent to Rs 23.79 trillion.
Tata Communications Ltd on April 17, reported its fiscal fourth quarter profit at Rs 321.18 crore, down 1.5 per cent on-year in comparison to Rs 326.03 crore during the same period last year. It posted revenue from operations at Rs 5,691.70 crore. The company also announced a final dividend of Rs 16.70 per share (face value of Rs 10 each) for the financial year ended March 31, 2024.
On April 19, Wipro reported its fourth quarter profit at Rs 2,858.2 crore, down 7.6 per cent as compared to Rs 3,093.5 crore in the same quarter a year ago. It recorded revenue from operations at Rs 22,208.3 crore in Q4FY24, down 4.2 per cent from Rs 23,190.3 crore in Q4FY23. The total contract value of large deals stood at $1.2 billion in constant currency terms, an increase of 9.5 per cent YoY.
IT major Infosys, on April 18, posted its fiscal fourth quarter profit at Rs 7,975 crore, up 30 per cent as against Rs 6,134 crore during the same quarter of last year. It posted revenue from operations at Rs 37,923 crore, marginally up by 1.3 per cent in comparison to Rs 37,441 crore during the same period last year.
On April 12, Tata Consultancy Services (TCS) announced a robust 9.3 per cent YoY jump in Q4 profit at Rs 12,502 crore as against Rs 11,436 crore profit in the same quarter last fiscal. The IT services major has reported Q4 revenue growth of 3.5 per cent YoY at Rs 61,237 crore in comparison to Rs 59,162 crore.