2 weeks ago

19 sectors beat Q1 estimates as corporate earnings gain momentum

19 sectors beat Q1 estimates as corporate earnings gain momentum
19 sectors beat estimates in Q1 as corporate earnings gain momentum: Report · thehansindia.com

Every few months, big companies in India tell everyone how much money they made or lost.

This news is about the first three months of the new business year, called Q1.

A company called Motilal Oswal studied the results of many Indian companies.

They found that 19 types of businesses did better than people expected.

Banks, metal companies, oil and gas companies, and car makers did especially well.

Only some fuel-selling companies, called oil marketing companies, had big trouble because oil prices were high.

The main stock market index, the Nifty, grew its profits by 18 percent compared to last year.

That is the best growth seen in ten quarters.

Almost half of the companies studied earned more money than experts expected.

Overall, it was a strong quarter for Indian companies.

Key facts

Report source
Motilal Oswal Financial Services (MOFSL)
Sectors beating estimates
19
Key growth drivers
Financials, Metals, Oil & Gas (ex-OMCs), Automobiles
MOFSL Universe PAT growth (ex-OMCs)
22% year-on-year
Nifty PAT growth
18% year-on-year (10-quarter high)
OMCs performance
Loss of Rs 181 billion vs Rs 162 billion profit a year ago
Companies beating PAT estimates
48% (25% missed)
Upgrades vs downgrades
130 upgrades vs 89 downgrades

Sources

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