Q3 results meet muted expectations as margin pressure appears to ease

Feb 16 2013, 14:23 IST
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Smaller declines in operating and net margins trigger Street’s hopes of recovery. (Reuters) Smaller declines in operating and net margins trigger Street’s hopes of recovery. (Reuters)
SummarySmaller declines in operating and net margins trigger Street’s hopes of recovery.

Power, Jindal Steel & Power, Ultratech and Bharti Airtel expanded at higher rates compared to last year.

The latest results season begun on a positive note, with heavyweights like Infosys, Reliance Industries, ITC, L&T and Maruti Suzuki providing bright spots with their quarterly numbers. However, as it progressed, the momentum declined with results, including those of Hindustan Unilever, Bharti Airtel, Hero Motocorp and Reliance Infra, turning out to be major letdowns.

The last leg of quarterly results were a major disappointment as third quarter numbers of JSPL, Hindalco, Tata Steel, Tata Motors and DLF were below market expectations.

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