Q3 Results Today Live: Coforge, Persistent Systems, Zensar shares rally over 12%, Ultratech, Mphasis gains ahead of results; Adani Green Energy, HPCL to announce Q3 results

UltraTech Cement recorded its consolidated net profit for the quarter ended December 2024 at ₹1,473.51 crore as against ₹1,774.78 crore in the corresponding quarter previous year.

Stock surged 5.40% on the NSE to ₹11,270.95.

Senores Pharmaceuticals’ consolidated net profit after tax for the quarter ended December 2024 stood at ₹16.43 crore from ₹7.11 crore recorded in the corresponding quarter previous year.

Shares rallied 10.94% on the NSE to ₹553.05.

Mphasis stock gains 4.38% trading at ₹2,932 on the NSE ahead of Q3 results.

MPS Ltd’s consolidated net profit for the quarter ended December 2024 rose 37 per cent to ₹40.71 crore from ₹29.73 crore in the corresponding quarter previous year. 

The board has declared 1st interim dividend of ₹33 per share.

Shares zoom 9.74% on the NSE to ₹2,204.

The shares of Polycab India Limited were trading at ₹6,318.50 up by ₹154.15 or 2.50 per cent on the NSE today at noon.

Polycab India Limited has reported robust financial performance for the third quarter and nine months ended December 31, 2024, surpassing its strategic revenue goals. The company achieved a consolidated revenue of ₹21,000 crore for the calendar year 2024, successfully beating its five-year guidance target ahead of time

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Shares of Persistent Systems rallied 12 per cent on Thursday following robust Q3 numbers. However, it has received mixed reactions from brokerages.

The company recorded its consolidated net profit for the quarter ended December 2024 at ₹372.99 crore, a growth of 30 per cent, from ₹286.13 crore in the corresponding quarter previous year.

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(NSE data as at 12.58 pm)

Shares gained 13.64% to trade at ₹852.35 on the NSE as at 12.57 pm.

Ultratech Cement, an Aditya Birla Group company, is expected to register 29 per cent fall in net profit in the December quarter even while the topline may rise marginally, largely due to intense competition.

Revenue from operations in the third quarter will increase marginally by just one per cent year-on-year, according to an average estimate of four leading brokerage houses.

EBITDA for the quarter is estimated to decline 14 per cent y-on-y and operating margins may contract 3.1 percentage points to 16 per cent.

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Menon Bearings recorded its consolidated net profit for the quarter ended December 2024 at ₹5.47 crore as against ₹5.46 crore in the corresponding quarter previous year. 

Shares traded at ₹117 on the NSE, lower by 2.32%.

20 Microns stock slumped 11.51% on the NSE to ₹202.87 following Q3 results. However, it reported a slight rise in consolidated net profit for the quarter ended December 2024 at ₹12.92 crore as against ₹11.50 crore in the corresponding quarter previous year. 

Ultratech shares rise to trade among top gainers of Nifty 50 pack ahead of Q3 results

Shares up 2.45% to ₹10,955.55 on the NSE as at 12.05 pm.

Tata Teleservices (Maharashtra) reported a net loss of ₹315.11 crore for the quarter ended December 2024 as against ₹307.69 crore in the corresponding quarter previous year.

Its revenue from operations for Dec 2024 quarter rose to ₹332.77 crore as against ₹296.03 crore in the corresponding quarter last year.

Shares trade flat on the NSE at ₹76.30.

HDFC Bank reported its results for the for the quarter ended December 2024 yesterday. The numbers were largely in line with expectations, given the bank’s transition phase post the merger with HDFC Limited. Here are the key takeaways.

Advances growth

The bank’s deposits grew 15.8 per cent and the advances grew a mere 3 per cent year on year during Q3 FY25. This slow growth in advances needs to be seen in light of the bank’s efforts to bring the credit-deposit ratio (CDR) down to comfortable levels, which shot up above 100 per cent levels post the merger with erstwhile HDFC Limited. A year ago, as of Q3 FY24, the CDR was 110.5 per cent. It has now been brought to 98.2 per cent, at an average rate of around 3 percentage points each quarter.

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Macquarie On Polycab

• Outperform Call, Target At `7,928/Sh
• Strategic Outlook Implies Nearly 15% Revenue CAGR FY25-30
• Reported Revenue In-line With Estimates
• Key Positive Surprise Was Better Than Expected Cable & Wire Segment Margin

Citi On Polycab

• Buy Call, Target At `8,600/Sh
• Revenue Growth Of 20% YoY Was Below Estimates
• Better Than Expected Margin Was Seen In Wires & Cables Segment
• Lower Loss In FMEG Business, EBITDA Growth YoY & Was Ahead Of Est
• Wires & Cables Margin Improvement Was Led By Normalisation Of Margin

UBS on Polycab

• Buy Call, Target At `9,000/Sh
• Q3 Missed Consensus Topline By 3% But EBITDA Beat Of 7%
• Cable & Wire Topline Growth Of 12% Drove Miss On Topline.
• Miss On Result Was Led By Slowing Government Capex
• Slowing Government Capex Should Recover With Rebound In Govt Capex
• FMEG Segment Saw Sequential Reduction In Loss

Jefferies on Polycab

• Maintain Buy, TP 9220
• Wire demand slackened due to softening of copper price
• Higher channel inventory also in start of Q3
• Healthy guidance for medium term
• View Polycab as good play on capex and housing
• FY24-27 Sales/PAT CAGR at 24%/25%

MS on Polycab

• Maintain Overweight, TP 7537
• Disappointing implied domestic cable and wire volume
• Implied domestic volume growth in single digit
• Cable demand was health but weaker in copper
• Margin improves driven by wire business and exports

Zensar Technologies stock rallied 13.59% on the NSE to ₹852. The company recorded its consolidated net profit for the quarter ended December 2024 at ₹159.8 crore as against ₹161.7 crore in the corresponding quarter previous year. Its revenue from operations rose to ₹1325.6 crore in the Dec 2024 quarter as against ₹1204.1 crore in the corresponding quarter previous year.

COFORGE 3Q: $ CC REV +7.5% QOQ | EBITDAM @17.8% (+130 BPS QOQ) | BEAT ON REVENUES AND MISS ON MARGINS; BROAD-BASED GROWTH ACROSS VERTICALS

• COFORGE’s USD revenue grew 7.5% QoQ ( up 8.4% QoQ CC). Growth was led by TTH vertical (+7.5% QoQ), followed by Insurance, which was up 5.8% QoQ. BFS grew 4.9% QoQ during the quarter. 

• Broad based growth across Americas (69.2%), EMEA (20.5%) and RoW (3.3%) YoY was seen.

• Order Intake was USD 501m - second consecutive quarter of US$ 500+ m order intake. Signed four large deals during the quarter. 12 month executable order book at USD 1.3b up 40% YoY.

• Adj. EBITDA margin stood at 17.8% up 130bps QoQ.

• Cigniti business delivered 3.5% cc QoQ growth; EBITDA margin improved to 17.3%.

• Headcount: stood at 33,094; net addition of 611 sequentially (up 2%). Headcount has increased 16% organically since the beginning of the year.

• The board has declared interim dividend of INR19/share.

Ultratech Cement shares were up 1.69% on the NSE, trading at ₹10,874.05 ahead of the Q3 results.

Dr Reddy’s Laboratories’ net profit is likely to remain little lower or almost flat at around ₹1360-65 crore in the third quarter of the current fiscal ended December 2024 compared to ₹1,378 crore posted in the corresponding quarter of previous financial year.

The revenue, however, is projected to register up to 10 per cent growth to reach around ₹8,000 crore as against ₹7,248 crore in the year-ago period by market estimates. The drug-maker is slated to release Q3 numbers on January 23, 2025. The challenges for the Pharma major during the December quarter could be in the form of lower sales of cancer drug, Revlimid, and likely slowdown in the growth in the US business. 

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Hindustan Unilever shares declined nearly 4% to hit ₹2,253.85 following Q3 results. Brokerages cut target prices

UBS On HUL

• Neutral Call, Target At `2,700/Sh
• Revenue Growth Broadly In-line; Weak Product Mix Impacts UVG
• Volume Led Growth In Home Care; Price Hike Impacts Personal Care
• Expect Near Term Demand To Remain Soft
• Cut EPS Est For FY25-27 By 1-5% To Reflect Near Term Demand Weakness

CLSA On HUL

• Underperform Call, Target Cut To `1,924/Sh
• Weak Growth & Lower Margin In Q3
• Three Of Four Segments See UVG Decline; Minimalist Acquisition Announced
• FY25-27 EPS Cuts Of 4-6%
• Margin To Weaken Especially For Beauty & Wellness As Growth In Focus

GS On HUL

• Neutral Call, Tgt At `2,480/Sh
• Q3 Below Estimates On Volume & EBITDA Growth
• Urban Slowdown Has Worsened, Downtrading To Small Packs Underway
• Soap Volumes Decline Driven By High Price Increases And Grammage Cuts
• EBITDA Margin Lower YoY Despite Low Ad Spends
• Management lowers near term outlook to moderating consumption environment from stable environment
• Acquired Minimalist at 6x EV/sales; the valuation seems fair given the acquisition is large, profitable, synergistic and complementary.
• After many quarters, pricing turned positive at 2%.

Nuvama on HUL

• Maintain Buy, TP 3225 (FROM 3395)
• Volume growth below expectations, overall inline
• Given current RM inflation, we are cutting FY25E/26E/27E EPS by 3%/5%/5%
• Investec on HUL
• Maintain Hold, TP 2643 (FROM 2654)
• No near term recovery on cards
• Near-term growth outcomes remain challenging for HUL
• signal weaker demand trends for the sector as a whole.
• HUL’s intent to take the inorganic route with the Minimalist acquisition (likely sub 1% of FY26E sales)
• Believe visible triggers for improving revenue growth will be the drivers of earnings, valuation, and stock price from current levels

Adani Energy Solutions and Adani Green Energy traded flat on the NSE at ₹799.55 and ₹1,036.50, respectively, ahead of the Q3 results today. 

Pidilite shares zoomed 7.60% on the NSE to ₹2,964.20 as net profit jumped 9% to ₹557 crore for the quarter ended December 2024 as against ₹511 crore in the corresponding quarter previous year. 

Persistent Systems stock soared 7.96% on the NSE to ₹6,135.35, following robust Q3 numbers

Coforge board has declared third interim dividend of Rs. 19. Coforge Inc., a wholly owned subsidiary of the Company has agreed to enter into a Stock Purchase Agreement with Xceltrait Inc. and its stockholders (“Stock Purchase Agreement”) to acquire all of the outstanding shares of capital stock of Xceltrait Inc. for aggregate purchase consideration of approximately $ 17.85 million.

Company recorded its consolidated revenue from operations for the quarter ended December 2024 at ₹3318.2 crore as against ₹2323.3 crore in the corresponding quarter previous year.

Stock jumps 8.43% on the NSE to ₹8,922.10.

Results calendar: UltraTech Cement, Dr Reddy’s Laboratories, Hindustan Petroleum Corporation, Indus Towers, United Spirits, Adani Energy Solutions, Adani Green Energy, Amber Enterprises India, Capri Global Capital, Cyient, Dai-ichi Karkaria, Greaves Cotton, Indian Energy Exchange, KFin Technologies, Mankind Pharma, Mphasis, Nippon Life India Asset Management, Senores Pharmaceuticals, Sona BLW Precision Forgings, Spandana Sphoorty Financial, Suryoday Small Finance Bank, Syngene International, Tata Teleservices, Tejas Networks, Thyrocare Technologies, Ujjivan Small Finance Bank, V2 Retail, and Zee Entertainment Enterprises 

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