Q3 Results Drive Market Action Today

Standalone net profit at TVS Motor Company has increased by 52% to ₹940 crore for Q3. Revenue from operations increased by 37% to ₹12,476.26 crore during the same quarter. The company's shares increased by 3% following the announcement of results. 

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Approximately 127 companies have released earnings for the October to December quarter today, including several prominent firms like Larsen & Toubro, Maruti Suzuki India, Bharat Electronics and SBI Life Insurance.

The company has incurred an expense of ₹41.37 crore related to past employee benefits under the new labour laws.

Key Company Performances

Asian Paints shares fell by approximately 7% following uninspiring Q3 results, with shares reaching a new low of ₹2,451 since October last year.

Shares in Maruti Suzuki were up over 2% in anticipation of earnings being reported. Domestic sales rose by 22% and exports by 3.9% in this period.

L&T is predicting steady operations from their core engineering business, as the order inflow is likely to be impacted negatively due to high comparative prior year levels without any large orders.

Brokerages expect a 16% increase in revenue for L&T, and a nearly 35% increase in post-tax profit.

Broader Earnings Landscape

Several companies have released reports, such as Aditya Birla Real Estate, ACC, Arvind Fashions, Balkrishna Industries and Borosil Renewables, along with CSB Bank, Gland Pharma, Heritage Foods and Lodha Developers.

LT Foods, Mahindra & Mahindra Financial Services, National Securities Depository and Phoenix Mills are now part of this series. Companies such as Pine Labs, Piramal Pharma, Sagility, SBI Cards and V-Guard Industries also had major announcements.

SBI Life Insurance Company, Symphony, Thyrocare Technologies and Brigade Hotel Ventures also rounded out the list of key companies reporting results. Crizac and others will fill the long earnings calendar.

The market watched as Maruti had its highest quarterly revenue growth rate since Q2. The market was also watching for the top automaker's profit growth to be at its highest in six quarters.

Trading Reactions and Expectations

TVS Motor Company reported the one-time exceptional charge related to labour code changes effective September 21, but its share price reacted positively in spite of the hit.

Asian Paint Company shares were pressured following the results, with a substantial drop in price at some point during the day. Maruti has already built momentum heading into its earnings report.

L&T is focused on execution strength in a business environment of subdued new orders. The first earnings cycle has resulted in differing performance trends among various sectors of Corporate India.