Q3 FY24 Earnings Season

Varun Beverages reported a strong Q3 CY2024 with consolidated revenue growth of 24.1% YoY to INR 4,804.6 crore, driven by expanded distribution and product penetration.

ABB India reported a solid Q3CY24 with order inflows up 11% YoY, driven by strong base orders and a pickup in large contracts from data centers, rail, and export segments.

AIA Engineering reported Q3 FY24 revenue of INR 1,146 crore, with EBITDA of INR 395 crore (33.79% margin) and PAT of INR 279 crore.

Coal India reported a strong Q3 FY24 with highest-ever nine-month revenue of INR 104,914 crore (+5% YoY) and PAT of INR 23,849 crore.

Aurobindo Pharma reported Q3 FY24 revenue of INR 7,352 crore (+14.7% YoY) and EBITDA margin of 21.8%, driven by strong US formulation growth (+28.9% YoY) and injectable/specialt...

Bosch Limited reported a strong Q3 FY24 with revenue from operations at INR 42,052 million, up 14.9% YoY, driven by 18.5% growth in product sales across powertrain, aftermarket,...

Hero MotoCorp delivered a strong Q3 FY24 with 20% revenue growth and 50% PAT growth, driven by premiumization, cost savings, and festive demand.

ONGC reported Q3 FY24 standalone PAT of INR 9,536 crore, down 13.7% YoY due to lower crude and gas realizations and GST on royalty provisions.

Ashok Leyland reported its best-ever Q3 with revenue of INR 9,273 crore (+3% YoY) and EBITDA margin of 12.0% (+320 bps YoY), driven by strict pricing discipline, cost optimizati...

BPCL reported Q3 FY24 revenue of ₹1,29,976 crore and PAT of ₹3,397 crore, with nine-month PAT at ₹22,449 crore (vs loss last year).

Eicher Motors delivered a record Q3 with consolidated revenue of ₹4,179 crore (+12.3% YoY), EBITDA of ₹1,090 crore (+27.2% YoY), and PAT of ₹996 crore (+34.4% YoY), driven by st...

Hindalco reported a strong Q3 FY24 with consolidated EBITDA up 36% YoY to INR 6,985 crore and PAT up 71% YoY to INR 2,331 crore, driven by recovery at Novelis, cost control in I...

M&M reported a solid Q3 FY24 with consolidated PAT up 34% YoY (excluding one-offs), driven by strong auto performance.

PowerGrid reported consolidated Q3 FY24 revenue of INR 11,820 crore and PAT of INR 4,028 crore, with EBITDA margins maintained above 80%.

ABFRL reported Q3 FY24 consolidated revenue of INR 4,167 crore, up 16% YoY, driven by new businesses (ethnic, digital, sportswear) contributing ~20% of revenue.

Berger Paints reported a solid Q3 FY24 with standalone volume growth of 9.1% and EBITDA growth of 38% YoY, driven by gross margin expansion to a 10-quarter high of 40.3%.

Bharti Airtel reported a satisfactory Q3 FY24 with consolidated revenue of INR 37,900 crore, impacted by African currency devaluation.

Kalyan Jewellers reported a strong Q3 FY24 with consolidated revenue of INR 5,223 crore (+34.5% YoY) and PAT of INR 180 crore (+21.6% YoY).

SBI reported Q3 FY24 PAT of ₹9,164 crore, absorbing a one-time exceptional provision of ₹7,100 crore for pension and dearness relief.

Biocon's Q3 FY24 consolidated revenue from operations grew 34% YoY to INR 3,954 crore, driven by a 65% surge in biosimilars revenue, partially offset by a 7% decline in generics.

Adani Enterprises reported a strong Q3 FY24, with nine-month consolidated income of INR 77,702 crore and EBITDA up 58% YoY to INR 9,592 crore.

Asian Paints reported a strong Q3 FY24 with 12% volume growth in decorative business, driven by recovery in Tier 3/4 cities and robust industrial performance.

Astral delivered a robust Q3 FY24 with 15% volume growth in plumbing (24% in 9M) despite PVC/CPVC price declines of 7%/5% and ~INR 35cr one-offs (25th-anniversary event, Bathwar...

Bajaj Finserv reported a strong Q3 FY24 with consolidated total income up 34% to INR 29,038 crore and PAT up 21% to INR 2,158 crore.

Bandhan Bank reported a strong Q3 FY24 with PAT surging 152% YoY to INR 733 crore, driven by robust loan growth and stable asset quality.

Britannia reported Q3 FY24 revenue of INR 4,192 crore, up 2% YoY, with operating profit margin of 17.7%.

Canara Bank reported a strong Q3 FY24 with net profit of INR 3,656 crore, driven by robust RAM sector growth (14.56% YoY) and controlled credit costs (0.97%, first time below 1%).

Dabur delivered a solid Q3 with consolidated revenue of INR 3,255 crore (+7% YoY) and 6% volume growth in India FMCG.

Dixon Technologies reported a stellar Q3 FY24 with consolidated revenue surging 100% YoY to INR 4,821 crore, driven by a 251% YoY jump in mobile & EMS revenue to INR 3,214 crore.

Grasim's Q3 FY24 consolidated revenue grew 12% YoY to INR 31,965 crore, with EBITDA up 34% to INR 5,150 crore, driven by volume growth in VSF (34%) and caustic soda (5%), though...

Maruti Suzuki reported a strong Q3 FY24 with PAT of INR 3,130 crore, up 33% YoY, driven by record quarterly exports of 71,785 units and a favorable product mix.

Ajanta Pharma reported a strong Q3 FY24 with consolidated revenue of INR 1,105 crore, up 14% YoY, driven by broad-based growth across branded generics.

APAR Industries reported a solid Q3 FY24 with consolidated revenue of INR 4,013 crore (+2% YoY), EBITDA of INR 432 crore (+24% YoY) at a margin of 10.8% (up 190 bps YoY), and PA...

NTPC reported a resilient Q3 FY24 with group PAT for 9M FY24 up 21% YoY to INR 14,842 crore, driven by higher generation (group generation up 7% to 315 BUs) and improved coal pr...

AU Small Finance Bank reported Q3 FY24 results in line with expectations, with balance sheet crossing INR 100,000 crore and deposits growing 31% YoY to over INR 80,000 crore.

Aditya Birla Capital delivered a strong Q3 FY24 with consolidated revenue up 29% YoY to ₹9,997 crore and PAT up 39% YoY to ₹736 crore, driven by robust lending growth (NBFC AUM...

CDSL reported a strong Q3 FY24 with consolidated total income up 47% YoY to INR 236 crore and net profit up 44% YoY to INR 107 crore, driven by robust growth in demat accounts a...

Coromandel's Q3 FY24 results were sharply down YoY, with consolidated revenue of ₹5,523 crore (-33.8%), EBITDA of ₹358 crore (-54.2%), and PAT of ₹288 crore (-69.3%).

Divis Laboratories reported a steady Q3 FY24 with PAT of INR 358 crore on total income of INR 1,950 crore.

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SBI Life delivered a solid Q3 FY24 with PAT of INR 10.8 billion (+15% YoY) and VNB of INR 40.4 billion (+11% YoY).

Adani Ports delivered its strongest ever quarterly performance in Q3 FY24, with revenue surging 45% YoY to INR 6,920 crore and EBITDA growing 39% YoY to INR 4,186 crore.

DLF delivered a stellar Q3 FY24 with consolidated revenue of INR 1,644 crore, EBITDA of INR 633 crore, and PAT of INR 649 crore, up 26% YoY.

Sun Pharma reported Q3 FY24 consolidated revenue of INR 12,157 crore, up 9.5% YoY, driven by strong specialty sales (up 26.1% to $296M) and India formulation growth of 11.4%.

Tata Steel's Q3 FY24 consolidated revenue stood at INR 55,312 crore with EBITDA of INR 6,334 crore, yielding an 11% EBITDA margin, up 300 bps QoQ.

Cipla delivered a strong Q3 FY24 with revenue of INR 6,544 crore (+14% YoY) and EBITDA margin of 26.3%, driven by market-leading growth in India (+12%), an all-time high US reve...

KFin Technologies delivered a strong Q3 FY24 with revenue growing 16% YoY, EBITDA up 21% to a margin of 45%, and PAT rising 25%.

ICICI Bank reported a strong Q3 FY24 with PAT growing 23.6% YoY to ₹102.72 billion, driven by robust loan growth of 18.5% YoY and stable asset quality.

Kotak Mahindra Bank reported consolidated PAT of INR 4,265 crore for Q3 FY24, up 6.8% YoY, driven by strong performance in securities, vehicle finance, and microfinance.

HUL reported a resilient quarter with 2% underlying volume growth and EBITDA margin of 23.7%, up 10bps YoY.

JSW Steel reported a mixed Q3 FY24.

Reliance Industries delivered a strong Q3 FY24 with consolidated EBITDA of INR 44,700 crore (+17% YoY) and net profit of INR 19,641 crore (+11% YoY), driven by robust performanc...

UltraTech reported a steady Q3 FY24 with industry demand growth of 3%-4%, impacted by elections, floods, and seasonal slowdown.

Bajaj Auto delivered a record Q3 FY24 with revenue of ₹12,114 crore (up 30% YoY), EBITDA of ₹2,430 crore (margin 20.1%, up 100bps YoY), and PAT crossing ₹2,000 crore for the fir...

IEX reported a strong Q3 FY24 with consolidated revenue of ₹141.2 crore (+20.3% YoY) and PAT of ₹91.8 crore (+18.9% YoY), driven by 28.3 BU total volume (+16.8% YoY).

Alkem reported a strong Q3 FY24 with 9% YoY revenue growth and 160bps EBITDA margin expansion to 21.3%, driven by lower API costs and favorable mix shift toward higher-margin RO...

Axis Bank reported a steady Q3 FY24 with PAT of INR 6,071 crore, up 4% QoQ, driven by robust loan growth (23% YoY gross of IBPC) and fee income (29% YoY).

Bajaj Finance reported a mixed Q3 FY24 with strong AUM growth of 35% to INR 311,000 crore and record new customer acquisitions of 3.85 million.

Coforge reported a solid Q3 FY24 with organic CC revenue growth of 14.7% YTD and sequential growth of 1.8% CC, despite unusually high furloughs in BFS and a depressed demand env...

L&T reported a robust Q3 FY24 with group revenue of ₹55,100 crore (+19% YoY) and recurring PAT of ₹2,900 crore (+20% YoY).

Tata Consumer Products delivered a strong Q3 FY24 with consolidated revenue growth of 9% and EBITDA expansion of 190 bps.

Tech Mahindra reported Q3 FY24 revenue of $1.573 billion, down 5.7% YoY, with EBIT margins at 5.4% (7% adjusted for exceptional items).

Federal Bank reported a historic PAT of INR 1,007 crore in Q3 FY24, its first four-digit profit, driven by strong business momentum and strategic branch expansion.

Titan reported a strong Q3 FY24, driven by jewelry (17% secondary growth) and watches, while EyeCare and ethnic wear lagged.

HDFC Bank reported a 33.5% YoY PAT growth to INR 164 billion, driven by strong advances growth of 4.9% QoQ and stable NIM at 3.4%.

Adani Green Energy reported strong operational and financial performance for 9M FY24, with revenue from power supply up 57% to INR 5,794 crore and EBITDA up 52% to INR 5,412 cro...

Apollo Hospitals reported a strong Q3 FY24 with consolidated revenue of INR 4,851 crore (+14% YoY) and EBITDA of INR 614 crore (+21% YoY).

HCLTech delivered a strong Q3 FY24 with 6% sequential revenue growth in constant currency, the highest since Q3 FY21.

Infosys reported Q3 FY24 revenue declined 1% YoY in constant currency, with operating margin at 20.5%, down 70bps sequentially due to salary hikes and the McCamish cyber incident.

TCS reported Q3 FY24 revenue of INR 63,583 crore, up 4% YoY, with operating margin expanding 70 bps sequentially to 25%.

Wipro delivered a strong Q3 FY24 with constant currency revenue growth of 3% QoQ and 27.5% YoY, driven by broad-based demand across markets and service lines.