Q4 Results Today: Today’s trading session is going to be very important in terms of the results of the companies. The results for the first quarter of the financial year 2023-24 will be released by about 14 companies including Wipro, Hindustan Zinc, Jio Financial Services and HDFC AMC.
Which companies will release results?
According to the information given on the exchange, Wipro, Jio Financial Services, HDFC Asset Management Company, Hindustan Zinc, KP Green Engineering, Sejal Glass, Sibley Industries, Elecon Engineering, Rajneesh Wellness, Roselabs Finance, Rajneesh Retail, Amal, Banaras Hotels and VL. E-Governance and IT Solutions will release its fourth quarter results for the financial year 2023-24 today.
Infosys had released the results yesterday
Yesterday, fourth quarter results were released by Infosys, the country’s second largest IT company. There has been a tremendous jump in the company’s profits in the last quarter of the last financial year. In the January-March 2024 quarter, the company’s net profit jumped 30 percent to Rs 7,969 crore. At the same time, the company’s revenue has increased by 1.2 percent. This is lower than analysts’ estimate of Rs 386.24 billion.
IT sector has been tough
India’s $254 billion IT sector has been struggling for the last few quarters. Because clients have reduced spending on non-essential projects under inflation pressure. Due to this, companies are having to accept more difficult contract terms to get bigger deals. While clients are renegotiating, delaying or canceling projects. Due to this there has been a significant decline in the growth of the industry.
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