Quarterly results have been a major reason for the current market movements. The good financial performance from the major Indian companies has resulted in the markets making an upside move over 18000 levels. However the tech segment has been in a sticky position still given the world business levels in a sticky position. The US and UK markets are not functioning at their efficiency levels which is hitting the I.T businesses on a major level. The result of Wipro has taken a hit due to the similar reason as well. However the automobile business is back on track post the COVID situation. The markets are seeing a robust demand and hence the car manufacturers are receiving a huge order value and increased revenue due to the same. This is the case with Maruti Suzuki as well.
Wipro
The company has not been able to match the estimates made by the Dalal Street Analysts. The company reported an increase in revenue at 11% in comparison to the previous year’s quarter. But this was not as per the estimates of the analysts. Similarly the profit of the firm was also recorded at 0.4% lower than the previous year’s quarter which agin missed the street estimates.
The revenue of the firm for this quarter came in at 23190 Crore Rs. This was 20860 Crore Rs for the previous year’s quarter. However the street estimates for the company were at 23505 Crore Rs. Hence the company missed the revenue estimates by more than 300 Crore Rs. On the other hand the company earned a profit of 3075 Crore Rs which is sequentially lower than the previous year’s quarterly profit at 3087 Crore Rs. The street estimates for the same were 3156 Crore Rs.
Wipro Data
The good news for the investors is that the firm has agreed to a buyback. Wipro board agreed to a buyback of shares at 445 Rs per share. The total buyback is going to be of 26.96 Crore equity shares and an amount close to 12000 Crore Rs. The company reported a solid order booking in a year. It was more than 4.1 Billion dollars and the company is starting to gear up its game after the US and UK business slowdown. The major figure is the growth in larger order booking which is more than 155% on a year to year basis.
The revenue from the IT business of the firm was increased by 4% at 2823 Million dollars and the operational margin was at 16.3%. However these figures were flat when compared with the previous ones. The company gave a statement to improve productivity and operations to increase these figures. However the cash flow of the firm was 121%of the income earned which is a good sign again. The company expects that the revenue from the India State Run Enterprise would be between 2753 to 2811 Million Dollars.
Maruti Suzuki
The sales figures for Maruti Suzuki were 19.85% up in comparison to the previous year’s quarter. This was at 32059 Crore Rs. The same for the March 2022 quarter was at 26479 Crore Rs. The net profit of the firm was at 2670 Crore Rs. This received a huge increase at 42.38% based on the previous year’s quarter at 1875 Crore Rs. Hence the company has been able to get the desired results in this quarter. The Earnings before interest, tax, depreciation and amortisation stood at 4094 Crore Rs which is 42.5% more than the previous year’s quarterly amount of 2871 Crore Rs. The earnings per share for March 2023 of the company was at 88.41 Rs as compared to 62.10 Rs for March 2022.
Ultratech Cement
The top cement company of India recorded an increase of 18.36% in its revenue. The revenue was 15767 Crore Rs in March 2022 which increased to 18662 Crore Rs in March 2023 quarter. Despite the increase in revenue the company saw a decrease in the profits. The profit of the firm was 1665 Crore Rs this time which is 32% lower than the previous year’s quarterly profit of 2460 Crore Rs. The company has achieved 100 Million tons of dispatch, sales and production for the financial year 2023. This was supported with 95% capacity utilisation during this quarter. The volume growth of the firm is more than 15%. The company suffered its profits due to the increase in production costs.
The energy cost was 17% more, raw material cost was 9% up and the PETCoke and Coal prices increased by 18% as well. However the company has still managed to give a dividend of 37 Rs per share. The company had put in a phased expansion plan and its execution is up to mark till now. The company is the largest one in its segment in the Indian markets.
