BackQ4 results today: Asian Paints, Eicher, Dr Lal Path Lab, Religare among others to report earnings
Otther than several macro economic factors, market will respond to the quarterly results of companies like Asian Paints, Eicher motors, Dr Lal Path Lab, Religare Enterprises, etc set to be announced on Thursday
PremiumStock market performance on Wednesday was fueled by the mixed reaction of investors who were cautious of US market uncertainties, declining oil prices, bond yields, and bullion. The stock market ended in green at 61,940.20, up by 178.87 points. On the other hand, Nifty 50 jumped by 49.15 points to close at 18,315.10. Investors will be eyeing the quarterly earnings of Asian Paints, Eicher Motors, Gillette India, Dr. Lal Path Labs, South Indian Bank, etc, up for release on Thursday.
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Other than these companies, GTL Infra, Ajmera Realty, Mangalore Chemicals, Everest Ind, DCW, Shankara Buildings, CARE Ratings, Paisalo Digital, Neuland Lab, South India Bank, Asian Paints Ltd, Eicher Motors, Everest Industries, Gillette India Limited, Dr. Lal Path Labs, Religare Enterprises, etc will announce their results.
Asian Paints
Asian Paints shares closed 0.17% higher at ₹3040.65 per share on BSE on Wednesday. The company shares haven’t performed well in the last year. Its share value has declined by 0.19% YTD, and by 1.40% in last one year.
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The company reported a net profit of 5.6 per cent YoY to ₹1,072.67 crore in the December quarter in FY23 against ₹1,015.69 crore during the same period in FY22. Its consolidated sales for the quarter rose by 1.7 per cent to ₹8,607.50 crore compared with ₹8,462.15 crore in Q3FY22.
Eicher Motors
Reflecting investors' confidence and expectation of some good results, Eicher Motors shares closed 1.03% higher at ₹3415.50 apiece on BSE on Wednesday. Eicher Motors' market capitalisation stood at ₹93,407.63 crore on BSE on Wednesday.
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Beating the market estimates, Eicher Motors reported a whopping 62.42% rise in its consolidated net profit to ₹740.84 crore in the quarter that ended in December,2022. The company posted a profit of ₹456 crore in the same period last year. Its total income stood at ₹3,913.32 crore against ₹2,972.79 crore in Q3 FY22.
Dr Lal Path Labs
Akin to its peer, market investors are expecting promising quarterly results from Dr Lal Path Labs. That's why, the company's stock closed 1.12% higher at ₹1949.90 apiece on Wednesday.
During the quarter that ended in December, the company reported a total income of ₹499.9 crores against ₹542.5 crores during Q3FY22. The company's net profit stood at ₹52.9 crores for Q3FY23 against ₹71.7 crore for Q2FY23.
Religare Enterprises
Ahead of its quarterly results, shares of Religare Enterprises zoomed by 4.59% and closed at ₹169.60 apiece on BSE on Wednesday. The company's market capitalisation stood at ₹5,487.57 on BSE yesterday.
Religare enterprises earned a total income of ₹1168.6 crore in the December quarter of FY23, against ₹1183.3 crore during the same period in FY22. The company posted a loss of ₹117 crorre in the December quarter against a loss of ₹207 crores in the September quarter of FY23.
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