The fourth quarter results are underway, with some significant earnings scheduled for today. Infosys, Jio Financial, HDFC AMC, and HDFC Life are the top earnings to watch. Ten companies will release their results on Thursday.

Apart from the aforementioned companies, Advik Capital, Devinsu Trading, Indosolar, Mahindra EPC Irrigation, National Standard (India), and Omnitex Industries India will also announce their results.

Infosys Q4 Expectations

Infosys, India's second largest services exporter, is expected to see a sequential fourth-quarter revenue decline in constant currency terms, despite solid organic top-line growth year on year.

According to the average estimate of seven brokerages, revenue from operations is expected to increase by 10% year on year (YoY). Profit estimates vary, ranging from a 10% YoY growth to a 19% YoY decline.

For example, Motilal Oswal expects PAT to grow by 10%, whereas JM Financial expects it to fall to around 19%. Nuvama, on the other hand, sees a 16% year-on-year profit decline.

Analysts expect a 1% sequential decline in CC revenue, which is at the upper end of the guidance range. This will be due to lower revenue from the sale of third-party service delivery items, as well as seasonal weakness in demand.

Infosys is expected to guide for 1-4% CC revenue growth in FY26. The muted guidance is due to two factors: deteriorating macroeconomic conditions as a result of tariff wars, and unlike FY25, the IT major does not have a mega-deal contribution.

HDFC Life's Q4 Expectations

According to three brokerages, HDFC Life Insurance Company's annualised premium equivalent (APE) is expected to increase by 10% to 17% year on year in Q4FY25, with APE ranging from Rs 5,214 crore to Rs 5,510 crore for the quarter ended March 31, 2025.

The value of its new businesses (VNB) could increase by 10-14% in the same quarter. Mirae Asset Sharekhan, Yes Securities, and Nuvama Institutional Equities each provided an estimate. While Yes maintains the most conservative APE and VNB estimates, Nuvama remains the most bullish of the group.

According to Sharekhan, the private insurer's profit after tax could rise by 31% year on year and 28% quarter on quarter.