Earnings on April 22: ICICI Bank, Yes Bank will announce Q4 results today

Major companies in the banking, IT and financial sectors have geared up to announce their Q4 earnings for FY23, leading to a busy week in the market. On April 17, Angel One, Network 18 Media & Investments, Just Dial, TV18 Broadcast, Hathway Cable & Datacom and Quick Heal Technologies reported their earnings.

On April 18, ICICI Lombard General Insurance, Schaeffler India, Crisil, Tata Coffee, Accelya Solutions India and Oriental Rail Infrastructure followed suit. On April 19, Tata Communications, ICICI Securities, Alok Industries, Mastek and Benares Hotels reported earnings, while HCL Technologies released theirs on April 20.

On April 21, Reliance Industries, Tejas Network, Wendt India, Tanfac Industries and Aditya Birla Money were among the notable companies that announced their earnings report. These Q4 earnings reports, along with global trends, will significantly impact market sentiment. The performance of Infosys and HDFC Bank in their quarterly results will also have an effect on equity markets.

ICICI Bank, the second-largest private lender in India, will announce its Q4 results on April 22. In the third quarter of FY23, ICICI Bank recorded a substantial 34.2% YoY increase in its standalone profit after tax, reaching ₹8,312 crore. The bank's net interest income (NII) also saw a substantial YoY growth of 34.6%, amounting to ₹16,465 crore in Q3. Additionally, its net interest margin expanded to 4.65% in Q3, compared to 3.96% in the year-ago period and 4.31% in Q2 of the current financial year.

ICICI Bank's net NPA ratio improved, declining from 0.61% at the end of the September quarter to 0.55% at the end of December. The provisioning coverage ratio for non-performing assets stood at 82%.

YES Bank, a private sector lender, will also announce its Q4 results on April 22. For the December quarter, YES Bank reported a significant 80.66% YoY drop in its standalone profit, amounting to ₹51.52 crore, primarily due to ageing-related provisions. However, its net interest income showed improvement, with an 11.7% YoY growth at ₹1,971 crore in Q3.

Investors are keenly watching these announcements and the outcome of these reports will have a significant impact on the market. Analysts expect the market to react positively if the results meet or exceed expectations. As investors anticipate the announcements, they will be keeping a close eye on the performance of ICICI Bank and YES Bank.