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The third-quarter earnings season has kicked off with several major Indian companies releasing their results. On Thursday, January 23, companies like UltraTech Cement, Adani Green Energy, Hindustan Petroleum Corporation, Dr Reddy’s Laboratories, and others released their quarterly earnings. According to analysts, the growth rate of Nifty 50 companies is expected to be single-digit and at best track underlying inflation in the economy.
Some key highlights include:
* UltraTech Cement posted a profit rise of 16.98% to Rs 1,473.51 crore, beating estimates.
* Adani Green Energy reported a 85.16% surge in profit to Rs 474 crore, with a revenue growth of 2.34% to Rs 2365 crore.
* Hindustan Petroleum Corporation (HPCL) reported a profit jump of 471.42% to Rs 3,022.90 crore, missing estimates, with a revenue growth of 0.35% to Rs 1,19,415.27 crore.
* Dr Reddy’s Laboratories reported a profit rise of 15% to Rs 1,341.60 crore, with a revenue growth of 6% to Rs 12,440.60 crore.
* United Spirits reported a profit drop of 4.29% to Rs 335 crore, with a revenue growth of 11.06% to Rs 7,732 crore.
According to brokerage firm InCred Equities, Dalmia Bharat’s volume in 3QFY25 saw a decline of around 1.5% year-on-year (YoY), but the long-term demand outlook remains strong.
Axis Securities also commented on Q3 performance of Hindustan Unilever, saying demand conditions remained weak, with urban growth continuing to remain weak, while rural areas continue to recover.
JM Financial analyzed Persistent Systems’ Q3 performance, stating that the company reported a well-rounded performance with revenue growth and margin expansion.