Tata Consumer Products To Nestle India, Companies to Announce Results Today

Corporate actions taken by companies have a direct impact on the stock market. Speaking of, the quarterly results announced by some of the largest IT, FMCG, and auto companies on Tuesday will have a significant effect  on how the stock market reacts. The Q4FY23 results of companies like Bajaj Auto, Dalmia Bharat, HDFC AMC, Nestle India, AU Small Finance Bank, Mahindra Holiday, Mahindra CIE, Nippon, Tata Consumer Products, Tata Steel Long Products, Rallis India, Mahindra Life, etc. will be eagerly anticipated by market investors.

From Bajaj Auto, Dalmia Bharat to HDFC AMC and Nestle India, let’s talk about the companies that will draw focus of investors amidst today’s intraday trading session.

Tata Consumer Products

 

On Tuesday, Tata Consumer Products will release its earnings report for the March quarter. The company announced in February that its net profit for the December 2022 quarter increased by 25.6% to 364.43 Cr from 290.07 Cr the prior year.

Mahindra CIE, Mahindra Life and Mahindra Holiday

 

Mahindra will announce the results of two of its business segments, Mahindra CIE and Mahindra Holiday. As per Mahindra CIE’s reports, during the December quarter of 2022, its sales increased by 34% to reach 2246.84 Cr. In comparison to the same quarter a year ago, the company’s net profit increased to 657.81 Cr from 80.23 Cr. Comparatively to the year ending December 2021, the company posted a net loss of 136.17 Cr as opposed to 6765.17 Cr.

HDFC Asset Management Company

 

On Tuesday, HDFC Mutual Fund, one of the biggest mutual fund providers in the nation, will also report its Q4 financial results. The asset management company said that for the three months ending December 2022, its profit after tax (PAT) increased nominally by 3% to 369.5 Cr.

In comparison to the same quarter in FY22, when it concluded in December, its overall revenue increased by 4% to $663 Cr. Up till December 2023, it had an average asset under management of 4.45 lakh crore, compared to 4.47 lakh crore during the same period last year.

Nestle India

 

In addition to the aforementioned, today, Nestle India, a major FMCG company, will also present its Q1FY24 results report. Market analysts predict that the company will increase both its revenue and profit margins by double digits year over year. Price increases and modest sales of its milk-related items will be the primary drivers of company growth. In the preceding quarter, Q4CY22, Nestle reported a 66% YoY increase in net profit to 628 crore.

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