The week ending Jan. 17 was packed with earnings announcements, with some of the biggest companies having announced their Q3 results. Reliance Industries Ltd. announced its results on Thursday and recorded a 4% sequential climb in its revenue from operations to Rs 2.39 lakh crore for the quarter ended Dec. 31, 2024. The net profit of the oil-to-telecom conglomerate rose 12% sequentially to Rs 21,804 crore during the third quarter, on the back of a strong overall performance.
Axis Bank also announced its Q3 results on Thursday; the higher net interest income helped the bank’s net profit to rise 4% year-on-year in the third quarter of the current financial year to Rs 6,304 crore, which is in line with what the consensus estimated.
Nifty IT lost the most among sectoral indices this week, with Infosys Ltd., Tata Consultancy Services Ltd., HCLTechnologies Ltd. and Wipro Ltd. releasing their December quarter financials.
