The Q2 results for Indian companies in the January to March 2023 quarter were strong, and the performance further improved in the April to June 2023 quarter due to a better-than-expected recovery in the Indian economy. The Indian economy has managed to keep inflation under control, which is expected to fuel industrial and other demands in the country. Market observers and stock market investors are eagerly awaiting the Q2 results for 2023, as it will provide insights into the fundamentals of the stocks they are considering for their portfolio.
In related news, 38 listed companies on the Dalal Street are set to declare their Q2 earnings for the financial year 2023-24. Some of the notable companies include JSW Steel, JSW Energy, Paytm, Hindustan Zinc, Central Bank of India, L&T Finance Holdings, Poonawalla Fincorp, Laurus Labs, Tejas Networks, Atul, Sunteck Realty, Just Dial, and Butterfly Gandhimathi Appliances.
Among the companies announcing their Q2FY24 results, JSW Steel reported a 179% YoY rise in its consolidated net profit for the first quarter ended June 2023. However, the net profit was down sequentially from the previous quarter. On the other hand, Paytm’s consolidated net loss was significantly narrowed compared to the previous year, but it had widened compared to the preceding March quarter of fiscal 2022-23. L&T Finance Holdings reported a 102.6% surge in consolidated net profit for the first quarter of FY24, driven by steady growth in net interest margins.
Overall, market participants are closely monitoring these Q2 results as they provide valuable insights into the performance and prospects of the companies involved.
