Several prominent Indian companies, including Wipro (NYSE:WIT), LTIMindtree (NS:LTIM), Persistent Systems, IndusInd Bank, and Bandhan Bank are poised to announce their quarterly results today. These reports are expected to provide a mixed picture of the country's IT and banking sectors.
Wipro's Q4 2023 projection indicates the weakest growth among top IT firms, with an anticipated revenue change ranging from a de-growth of 1% to a growth of 1%. Despite this, Kotak expects the company's net profit to rise by 11.8% YoY to ₹2,972 crore ($397 million), accompanied by a modest 1.3% YoY total sales increase to ₹22,930 crore ($3.06 billion). This is predicted to result in an EBIT margin expansion of 90 basis points QoQ or 167 bps YoY to 16%.
In contrast, LTIMindtree could witness a 7.3% YoY profit drop to ₹1,102 crore ($147 million), despite net sales growing by 7.9% YoY to ₹8,878 crore ($1.18 billion). Persistent Systems is projected to report an 11.7% YoY profit rise at ₹245.70 crore ($32.8 million) on a significant 17% sales increase at ₹2,396.80 crore ($320 million). However, it's worth noting that the company's EBIT margin is expected to contract by 153 basis points QoQ or 117 bps YoY to 13.4%, amid sluggish decision-making and elongated deal cycles.
Turning to the banking sector, Bandhan Bank's loan book has grown by 12% YoY, with Motilal Oswal predicting a profit rise of 25.9% YoY at ₹751.90 crore ($100 million). The bank's credit cost and asset quality are also improving. IndusInd Bank's Q2 profit is forecasted at ₹2,210 crore ($295 million), up by 23%, with NII rising by 17% YoY to ₹5,020 crore ($670 million) and pre-provision operating profit rising by 13.9% YoY to ₹4,008 crore ($534 million).
Additionally, Bajaj Auto's revenue is expected to grow by 6% YoY to ₹10,812 crore ($1.44 billion) due to a volume decline of 8% YoY and a better mix leading to higher average selling prices, aided by lower input costs.
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