India Inc quarterly earning: Not much to cheer about

By: | Updated: August 8, 2016 6:54 AM

India Inc’s earnings during the April-June quarter continued to hang on a fragile recovery, reports fe Bureau in Mumbai.

Indian rupee vs US dollarWhile services sectors, involving consumer discretionary spends have done reasonably well, the same is not true for pharma, IT and FMCG.

India Inc’s earnings during the April-June quarter continued to hang on a fragile recovery, reports fe Bureau in Mumbai. Though most results declared so far are at par with consensus estimates, the performance has not been broad-based but at best can be termed resilient. While services sectors, involving consumer discretionary spends have done reasonably well, the same is not true for pharma, IT and FMCG. Weak demand continues to be a drag on the earnings. A sample of 752 companies show that net sales grew by only 2.58% during the quarter compared to the same period last year.

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