Q1 Company Results 2023: Hits and Misses

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As the first quarter of the financial year draws to a close, India’s business landscape is abuzz with the unveiling of Q1 company results 2023. From established industry giants to ambitious startups, each enterprise’s financial report paints a unique picture of its performance and prospects. In this article, we embark on a comprehensive analysis of these results, exploring the underlying trends, triumphs, and challenges that have shaped India’s diverse sectors. Join us as we decipher the financial narratives and gain valuable insights into the nation’s economic trajectory, setting the stage for what lies ahead in the coming quarters.

Q1 Company Results 2023 results reflect a company’s financial performance and health over the period of a quarter, i.e. Aprl’23 to Jun’23. Usually, these companies announce their results in the form of a quarterly earnings report. The quarterly results include the company’s financial details like expenses, revenue, profits, losses, EBIDTA. Quarterly earnings reports are typically released at the end of each quarter. Investors and analysts use these reports to assess investment or divestment opportunities.

Companies that delivered outstanding results in Q1

1.State Bank of India (SBI)

The State Bank of India (SBI) has declared its quarterly results for April to June 2023 period. The largest Indian commercial bank declared its quarterly earnings for Q1FY24 on Friday noon in which it reported 178.25% YoY rise in net profit to ₹16,884 crore.

2. Zomato

Zomato share price rose 12% in early trade today, a day after the food delivery company posted its first-ever quarterly profit. The Zomato stock opened at ₹89 against yesterday’s closing price of ₹86.22. The Zomato share price gained further to hit a high of ₹98.39 – a jump of 12% – in the morning trade. At the time of writing this copy Zomato shares were trading at ₹96.23, up ₹10, or 11.61%.

3. MRF Tyres

Tyre maker MRF Ltd., on Thursday, reported a nearly five-fold rise in consolidated net profit at Rs 588.75 crore in the June quarter, driven by higher revenue and lower raw materials costs. The company had posted a consolidated net profit of Rs 123.6 crore in the first quarter of the last fiscal, MRF said in a regulatory filing.

4. Cummins India

The company reported a consolidated profit after tax (PAT) of Rs 353.72 crore in the quarter ended June 30, 2023, compared to Rs 198.13 crore in the year-ago period.

Income from operations jumped over 31 percent to Rs 2,184.7 crore.

Underperformers of Q1


BHEL Q1 results: Bharat Heavy Electricals Limited reported a consolidated net loss of ₹343.9 crore in the June quarter against ₹188 crore in June quarter FY23. The company’s revenue rose by 7.1% to ₹5,003.4 crore in Q1FY24 against ₹4,672 crore in Q1FY23.

2. Aditya Birla Fashion and Retail

Aditya Birla Fashion and Retail on August 4 reported consolidated net loss of Rs 161.62 crore for the June quarter of FY24. This is in contrast with profit of Rs 94.44 crore in the same quarter of the previous financial year.

3. Adani Wilmar

Adani Wilmar’s total income fell 12 per cent to Rs 12,928 crore during the April-June period of this fiscal from Rs 14,724 crore in the corresponding period of the previous financial year.


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