Today, May 8, marks the announcement of fourth-quarter financial Q4 results for at least 30 companies, including Larsen & Toubro, Tata Power Company, Canara Bank, TVS Motor Company, and Hero Motocorp, among others. This release is part of the ongoing Q4 earnings season for the fiscal year 2024, with over 260 companies slated to declare their results this week.
These earnings reports will provide insights into various industries, offering valuable information on recent trends, revenue growth, and future outlooks. From prominent tech firms to well-established consumer brands, these announcements will paint a picture of the broader economic landscape.
One of the highly anticipated releases today is from Larsen & Toubro, which is expected to report robust Q4FY24 results driven by increased construction activity and a strong order book. The company is projected to see a 9.8 percent year-on-year (YoY) increase in net profit to ₹4,380 crore, an 18.6 percent YoY surge in revenue to ₹65,402 crore, and a 31 percent YoY rise in EBITDA to ₹7,553.9 crore.
Additionally, Bharat Forge’s performance will be closely watched. Baba Kalyani, chairman of the Kalyani Group, has stated that there are no shared assets between his family and the children of his estranged sister Sugandha Hiremath. Kalyani emphasized that there is no common male ancestor between the two families, thus denying any request for partitioning of assets or wealth owned by Kalyani joint family entities by Sameer Hiremath and Pallavi Swadi, as stated in an affidavit.
