Q3 results today: ICICI Bank, Kotak Bank, IDBI among 40 companies to announce earnings

40 companies will be announcing their quarterly earnings through the day. Among them, the most tracked after results will be from banking heavyweights ICICI Bank and Kotak Mahindra Bank.

The other important results will be IDBI Bank, IDFC First Bank, Indian Renewable Energy Development Agency (IREDA), J&K Bank, JK Cement, Persistent Systems and Union Bank.

On Friday, 46 companies announced their quarterly earnings including Reliance Industries (RIL), Hindustan Unilever, UltraTech Cement and Paytm.

ICICI Bank Q3 results

ICICI Bank’s earnings for the December quarter is likely to be aided by a higher than industry growth in the loan book, lower credit costs, and steady asset quality.

India’s second largest private sector lender is expected to report a 20% year-on-year (YoY) growth in net profit for the December quarter to Rs 9,984 crore, and net interest income (NII) is seen growing by 12% to Rs 18,474.30 crore, the average of estimates given by 12 brokerage firms showed.

Read more: ICICI Bank Q3 result preview: PAT may rise 20% YoY on stronger-than-industry loan growth

Kotak Bank Q3 results

Kotak Mahindra Bank is expected to report a double-digit growth in net profit for the quarter ended December, led by strong interest income, healthy loan growth, lower credit costs, and stable asset quality.

The private sector lender’s net profit for the quarter is seen rising 15.3% year-on-year (YoY) to Rs 3,219 crore, and net interest income is likely to grow by nearly 14% YoY to Rs 6,416 crore, the average of estimates given by 12 brokerage firms showed.

Read more: Kotak Bank Q3 result preview: PAT may grow 15% YoY on strong interest income, lower credit costs

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