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Q4 results today: Tarai Foods and VAS Infra among 5 firms to post earnings

Q4FY24 company results: Add-Shop ERetail Ltd, Athena Constructions Ltd, and Panorama Studios International Ltd will release their fourth-quarter report on May 31

Stock market, BSE

Photo: Bloomberg

Vasudha Mukherjee New Delhi

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As the result season comes to a close, five companies are scheduled to release their earnings report for the quarter that ended on March 31, 2024 (Q4FY24). These include Add-Shop ERetail Ltd, Athena Constructions Ltd, Panorama Studios International Ltd, Tarai Foods Ltd, and VAS Infrastructure Ltd.

Thursday's Q4 earning highlights

On Thursday, India's largest gold loan provider Muthoot Finance reported a higher-than-estimated profit at Rs 1,056 crore, up 17 per cent year-on-year for Q4FY24. Compared to last year, benchmark spot gold prices had risen by 22 per cent in the January-March quarter, driving loan growth for lenders. Muthoot may have also benefited from a regulatory ban placed on IIFL Finance in March, which prevented the disbursement of gold loans due to "material supervisory concerns" in its portfolio.

Apollo Hospitals also reported a year-on-year 76 per cent increase in its profit at Rs 254 crore for the March quarter. Chairman Prathap C Reddy said that while the hospital was focused on disease prevention, they were actively expanding their research efforts and looking into "new-age technologies like AI and robotics to enhance patient outcomes".

Market review on May 30

On Thursday, May 30, benchmark indices ended up to 0.9 per cent lower, extending their weakness for the fifth consecutive session. The S&P BSE Sensex dropped 617 points, or 0.83 per cent, to 73,886 levels. Meanwhile, Nifty50 was down 216 points, or 0.95 per cent, to 22,489, just below the 22,500-mark.

Tata Steel, Tech Mahindra, Titan Company, Power Grid, Bajaj Finserv, Bajaj Finance, Wipro, Nestle, JSW Steel, Tata Consultancy Services, Infosys, Mahindra & Mahindra, Tata Motors, ITC, Sun Pharma, HCL Technologies, NTPC, and Ultratech Cement dropped in the range of 1.5 per cent to 5.75 per cent.

Foreign institutional investors sold shares worth Rs 3,050.15 crore, while domestic institutional investors continued to buy shares worth Rs 3,432.93 crore on May 30.

Market outlook on May 31

Market sentiment on Friday appears optimistic as GIFT Nifty futures signal a higher opening by trading 63 points above Nifty futures at 22,690.50 as of 7:10 AM.

Investors will closely watch the release of Q4FY24 GDP data today. Investors are also likely to adjust their portfolios ahead of the release of exit polls tomorrow.

List of companies releasing Q4FY24 results on May 31

  • Add-Shop ERetail Ltd
  • Athena Constructions Ltd
  • Panorama Studios International Ltd
  • Tarai Foods Ltd
  • VAS Infrastructure Ltd

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First Published: May 31 2024 | 9:57 AM IST

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