Maruti Suzuki, SBI Card, HDFC AMC in focus today ahead of Q3 earnings

 Shares of automobile major Maruti Suzuki and State Bank of India subsidiary SBI Cards and Payment Services (SBI Card) were in focus on Tuesday, as investors awaited their quarterly earnings announcements due later in the day.

Analysts expect both companies to post a strong set of quarterly numbers. 

Maruti Suzuki is estimated to report a 90 per cent increase in net profit to Rs 1,922 crore compared with the corresponding period a year ago, and growth of almost 18 per cent in revenue to Rs 27,379 crore, according to Zee Business research. 

Also Read: Maruti Suzuki Q3 Results Preview: Net profit may rise 90% YoY on higher volumes, improved demand

The analysts expect easing of chip shortage-related issues, higher volumes and better demand to aid the auto major’s earnings. 

According to Zee Business research, SBI Card is estimated to report a more than 54 per cent year-on-year increase in net profit to Rs 595 crore for the quarter ended December 2022 on the back of increased sending, sustained credit cost and 35-40 per cent growth in receivables.

The card issuer's net interest income – the difference between interest earned and interest paid – is estimated to grow 18.4 per cent on year to Rs 1,180 crore, according to Zee Business research. 

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SBI Card is expected to report improvement in its asset quality on a sequential basis. 

According to Zee Business research, SBI Card’s gross non-performing assets as a percentage of total loans is estimated at 1.9 per cent, as against 2.14 per cent in the previous three months. Its net bad loans are likely to shrink by eight basis points on a quarter-on-quarter basis to 0.7 per cent, according to the estimate.

Besides Maruti Suzuki and SBI Card, Pidilite Industries, Indus Towers, HDFC AMC, Granules and Colgate-Palmolive are also slated to report their results on Tuesday.   

Shares of Maruti Suzuki were flat ahead of Q3 results at Rs 8426.90 apiece and SBI Cards share price was down over 1 per cent to Rs 758.90 per share on the BSE at around 10:40 Pm today.