Q4 results today: What to expect from NTPC, Zomato, JSW Steel, Punjab National Bank, Delhivery and Bandhan Bank

Zomato
Online food delivery platform Zomato is expected to report tepid sequential revenue growth for the quarter ended March, mainly on account of lower food delivery orders.

Revenue is seen growing by a meagre 2.2% quarter-on-quarter to Rs 1,991 crore. However, revenues for the quarter are seen growing 64% year-on-year.

Losses for the quarter are likely to shrink, when compared with the preceding December quarter, to Rs 345 crore, according to analysts estimates.

NTPC
NTPC is likely to post a 13% fall in net profit at Rs 4,861 crore for the quarter ended March. The drop in the bottomline is because the base quarter (Q4FY22) includes prior period sales of Rs 1,380 crore. Adjusted PAT growth, however, is seen at 7% YoY, according to Kotak Institutional Equities.

Revenue from operations is likely to rise 20% year-on-year to Rs 39,770 crore for the quarter under review.

“We expect healthy growth in generation at 84 BU (+8.6% yoy) due to commercialization of 4 GW over FY2023,” Kotak said.JSW Steel
JSW Steel is expected to report standalone volume of 5.69 mn tons, which will be higher by 11% year-on-year on ramp-up of volumes at Dovli phase II, according to analysts.

Kotak estimates steel realization to increase by 5.5% quarter-on-quarter (but fall 6.5% YoY) led by price hikes during the quarter and contract resets.

The steel major’s net profit is likely to decline 23% to Rs 2,498 crore in the March quarter, while revenues are likely to be flattish at Rs 47,675 crore.

“We estimate standalone EBITDA per ton to recover by 31% qoq to Rs 10,685 (but fall 21% YoY), led by higher realisations partly offset by higher input cost,” the brokerage said.

Some of the key monitorables include management commentaries on FY24 production and sales, as well as production ramp-up at captive iron ore mines.

Punjab National Bank
Punjab National Bank is expected to report multifold growth in its net profit for the quarter ended March. Motilal Oswal expects the lender’s profit to jump 520% to Rs 1,260 crore.

Net interest income for the quarter is seen at Rs 9,318 crore, showing a growth of 28% year-on-year.

However, analysts estimate the lender’s loan growth to be modest during the fourth quarter.

“We expect the bank to report healthy operating profit growth of 14% YoY resulting in strong earnings growth (low base) in spite of higher provisions. Loan growth trends are expected to be modest (2% QoQ) with NIM up marginally QoQ driven by higher yields,” Kotak Institutional Equities said.

Delhivery
Delhivery is likely to report a small positive adjusted EBITDA due to a sequential increase in the PTL business, according to analysts.

Essentially, Kotak is building in a 50% gross margin on Rs 130 crore additional QoQ volumes in the Express Parcel and PTL segments, and modest add-on benefit from normalizing lost shipment expenses.

Losses for the quarter are likely to widen to Rs 158 crore in Q4FY23 from Rs 120 crore in Q3FY22.

Bandhan Bank
Motilal Oswal sees Bandhan Bank’s net profit falling more than 50% to Rs 830 crore, while net interest income might drop 9% to Rs 2,300 crore.

The brokerage expects slippages to moderate and asset quality to improve further, while credit costs are likely to remain stable.

The bank reported 10% loan growth on a year-on-year basis, while the sequential growth was strong at 12%.

“The impact on NIM would be higher on account of lower slippages coming from the restructured portfolio (mostly the last quarter of peak slippages) and revision in interest rates on the MFI portfolio,” Kotak said.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)