Bharti Airtel, IRCTC, JSPL, Godrej Consumer among major Q3 earnings to watch today

8 Feb 2022 , 10:50 AM

Bharti Airtel, IRCTC, Jindal Steel & Power and Godrej Consumer Products were some of the major corporate earnings to watch out for on Tuesday. These companies will announce their financial performance for the quarter ending December 2021 (Q3FY22).

In Q3FY22, the telecom major Bharti Airtel is expected to report an over 50% drop in its net profit on a sequential basis. The previous quarter (Q2FY22) had witnessed a rise in profitability due to proceeds from spectrum assets sale to Reliance Jio. That said, this Q3 is likely to recorded sequential contraction, however, a single-digit growth is expected in the revenues aided by robust growth in Africa business, broadband and enterprise segment and steady performance in the mobile business. ARPU will continue to pick up the pace.

The FMCG player, Godrej Consumer Products expects to deliver single-digit growth in sales driven by pricing, while profitability is seen to improve sequentially with expansion in gross margins during the third quarter ending December 2021 (Q3FY22) period. In Q3FY22, challenges like unprecedented cost inflation and Indonesia business performance have played out. This has resulted in low volume growth and high price growth; high gross margin dilution and EBITDA margin dilution. For India business, Godrej Consumer expects to deliver close to high single-digit sales growth, largely driven by pricing.

Among other major Q3 earnings are of companies like Bata India,  AstraZeneca Pharma, Escorts, Glenmark Life Sciences,  Granules India, Indraprastha Gas, NCC, NMDC, RITES, Tata Teleservices (Maharashtra), Gujarat Gas, HeidelbergCement India and Mahanagar Gas.

Other companies are – Bajaj Electricals, Ajmera Realty & Infra India, Aster DM Healthcare, Borosil Renewables, Data Patterns (India), Endurance Technologies,  Jammu & Kashmir Bank, Jagran Prakashan, J Kumar Infraprojects, JK Paper, Kolte-Patil Developers, Latent View Analytics,  Praj Industries, Redington (India), Stove Kraft and Suven Pharmaceuticals.

Indian markets erased early gains and have nosedived as investors await RBI’s monetary policy outcome and major Q3 earnings. MPC meeting has commenced from today onward and a final decision on the last monetary policy for FY22 will be announced in February. RBI is likely to keep the repo rate unchanged at 4% along with an accommodative stance, however, the reverse repo rate is seen to witness a hike. Sensex struggled over 57,200 currently and Nifty 50 was below 17,100.