Key Points
In the March quarter, almost half of the companies that are part of the Nifty 200 index reported high double-digit growth in profits, as cost pressures eased and improved the profitability...
However, a deeper analysis on the performance showed that the number of companies to have reported at least 25% growth in profits came down drastically in the March quarter, compared with the June quarter of 2022...
In the June quarter of 2022, as many as 91 companies reported a 25% growth in profits, but this number was down to 66 in the March quarter.. Further, as many as 106 companies reported over 15% growth in profits in the June quarter, but the figure reduced to 89 in the March quarter...
Softer commodity prices and operating leverage should bode well for margins in the coming. quarters, while higher interest cost will put pressure on the bottom line, PhillipCapital said.. While growth outlook for the banking pack remains promising for FY24, it has dampened for the information technology sector given the global macroeconomic headwinds..
For FY24, partly on a higher base in financials, domestic earnings growth is expected to slow down to 19%, but foreign-related companies should see 21% growth, with a rebound in metals and oil & gas sectors, Jefferies said.. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own..
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