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Informist Poll

Nifty 200 companies' profit seen low amid subdued sales

Informist, Friday, Apr 21, 2023

By Rajesh Gajra

MUMBAI – Operating in the shadow of weak macros worldwide and collapse of some banks in the US, Indian companies from the Nifty 200 universe are likely to have found the going challenging in the March quarter. Most companies in the Nifty 200 pack are likely to have seen demand slowing down, prices under pressure, and profits contracting or subdued.

In Jan-Mar, the total of net profit of Nifty 200 companies is likely to have gone up by 8% on year while the aggregate revenue from operations is estimated to have increased 11%, according to an average of estimates by 18 brokerage firms. Sequentially, the Nifty 200 companies are likely to have recorded an 18% rise in net profit even as revenue is expected to be up by just 3%.

These estimates by analysts of major brokerage firms point to a depressing scenario by and large with exceptions to the trend being select oil and gas companies, hotels, banks, and companies from travel and tourism, and automobile sectors.

TURBULENCE

Even though there are mixed views on the quantum of drag corporate profits would have come under in Jan-Mar, the fact that they would likely be far away from robust is not disputed by any analyst.

According to brokerage Nuvama Institutional Equities, if oil and marketing companies are removed from the list, the story would largely be same–earnings under duress. "Metals and cement are likely to post another quarter of contraction, and apart from them, profits are likely to slow down for industrials, and remain weak for durables," the brokerage said in its Jan-Mar earnings preview of companies from its coverage universe.

This turbulence is also visible in the analyst estimates compiled by Informist for Nifty 200 companies. Seven metal companies, for instance, are seen reporting a 7% on-year fall in their aggregate topline. Their aggregate net profit is seen diving 56% on year.

Worst affected among the metal companies as per the estimates are heavyweights like Tata Steel Ltd, Vedanta Ltd, and Hindalco Industries Ltd. Brokerage Axis Securities counts weak selling prices, reset of annual contracts during the quarter, and the fear of a slowdown in world economies as the factors afflicting the metal sector's earnings performance in Jan-Mar.

Cement companies' topline is not seen hit but their bottomline is seen sharply lower. The aggregate sales estimates for seven cement companies are seen rising 14% on year while the net profit is likely to fall 27%. Brokerage ICICI Direct expects aggregate volume of cement companies in its universe to register a 9.3% on-year increase in Jan-Mar but the sales realisation is seen affected by just 2% increase in cement prices.

Different factors pulling engineering and capital goods companies in the March quarter would have likely led to a mixed performance among them. While Larsen & Toubro Ltd and Hindustan Aeronautics Ltd are seen reporting revenue growth in low single-digit numbers, Cummins India Ltd and Honeywell Automation Ltd are seen posting revenue growth on year in the 23-25% range. On the aggregate, seven companies from the sector are likely to have recorded a revenue increase of 7% on year and flat on quarter.

Even finance companies are likely to have followed the same path. The bottomlines of Bajaj Finance Ltd, Bajaj Finserv Ltd, L&T Finance Holdings, and Shriram Finance Ltd are seen rising 21-61% on year while those of Life Insurance Corporation of India, LIC Housing Finance Ltd, Muthoot Finance Ltd, and SBI Cards and Payment Services Ltd, are seen in the red. On the aggregate, their bottomline growth would likely come in at 6% while topline growth will likely have been double of that.

The sector's margins outlook for the March quarter by some analysts is upbeat. Brokerage Prabhudas Lilladher sees them as stable "as strong disbursements and yield transmission cushion rising cost of funds."

STANDING OUT

Automobile sector companies in Nifty 200 are seen reporting strong earnings numbers. The aggregate sales of 18 companies from the sector would likely have gone up by 27% on year and their aggregate net profit nearly doubled.

"The Indian automobile sector has seen a significant demand improvement (during Jan-Mar) with most categories witnessing encouraging traction on a YoY (on year) basis, led by double-digit volume growth, in the PV/CV (passenger and commercial vehicles) segment," said Axis Securities.

Fast moving consumer goods sector would likely have seen consumer demand become circumspect in the rising inflation environment, but would still manage to post reasonable growth numbers. The aggregate sales of 14 FMCG companies are likely to rise 11% on year and net profit is seen rising 14% on year. However, sequentially, the earnings are expected to disappoint with the sales up by just 2% and net profit down by 3%.

The decent earnings numbers of the sector would be influenced by heavyweight Hindustan Unilever Ltd whose sales is estimated to rise 16% on year and net profit seen up 11%. Sequentially, HUL's sales are seen up by just 2% and net profit up by just 3%.

Banks will likely to fare better than their peers from non-banking financial sector with a 33% on-year jump in aggregate net profit of 16 banks from the Nifty 200.

THE ROAD AHEAD

Analysts are sure that 2023-24 (Apr-Mar) will pan out differently compared with 2022-23 but differ on the contours. Nuvama Institutional Equities sees a risk to consensus expectation among analysts of a strong profit growth in 2023-24. Demand deterioration is broadening from exports to some segments of domestic consumption, and this shall eventually weigh on credit growth and capital expenditure by companies, it said.

Axis Securities said it will be keenly watching management commentaries on demand and margins outlook for next one year.

Analysts expect inflationary pressures to affect consumer durable companies. Although automobiles demand is seen continuing to be decent, there are uncertainties on consumer spending if the inflation increases. Challenges are seen subsisting for metals, cement and chemicals sectors while there will likely be a diverse trend in companies in capital goods, pharma, and oil and gas sectors.

Following are the Jan-Mar consensus earnings estimates of companies that constitute the National Stock Exchange's Nifty 200 index. These estimates are based on reports compiled by Informist Media from 18 brokerage houses.

Company name Sales PAT Sales PAT Sales PAT EBITDA Result No. of
——Average——- —–(Y-o-Y)—– —–(Q-o-Q)—– Mln Rupees date brokerages
—–Mln Rupees—– ————–% Change————– polled
AUTO
Apollo Tyres + 62,275 3,388 12 199 (3) 16 9,500 — 5
Ashok Leyland 117,329 8,088 35 (10) 31 124 12,470 — 8
Bajaj Auto 84,175 14,170 9 (4) (7) (5) 15,748 Apr 25 8
Balkrishna Industries 22,749 2,449 (4) (34) 6 146 4,301 — 5
Bharat Forge 25,372 2,676 52 2 30 (7) 5,359 — 6
Bosch 39,528 4,601 19 31 8 44 6,171 May 10 1
Eicher Motors + 36,774 7,884 17 29 0 6 8,923 — 8
Escorts Kubota 21,860 1,901 17 (6) (3) 2 2,003 May 10 3
Hero MotoCorp 82,939 7,460 12 19 3 5 10,059 May 4 8
M&M 220,577 17,649 29 37 2 16 28,254 — 6
Maruti Suzuki 325,464 26,318 28 43 17 12 34,377 Apr 26 8
Motherson Sumi Wiring India 18,058 1,327 9 186 8 25 2,119 — 2
MRF 57,978 2,585 11 65 5 53 6,724 — 2
Samvardhana Motherson International + 207,586 5,525 23 354 4 22 16,981 May 26 4
Sona Blw Precision Forgings + 7,293 1,118 33 7 8 4 1,971 — 1
Tata Motors + 1,042,360 42,507 34 N.A. 19 44 130,141 May 12 6
Tube Investments of India + N.A. N.A. N.A. N.A. N.A. N.A. N.A. — 0
TVS Motor Co 65,589 3,512 19 28 0 (0) 6,594 May 4 6
Total 2,437,904 153,158 27 99 12 22
Aviation
Interglobe Aviation 138,358 6,272 73 N.A. (7) (56) 56,058 — 5
Total 138,358 6,272 73 N.A. (7) (56)
BANK
AU Small Finance Bank* 11,930 3,893 27 13 3 (1) N.A. Apr 25 7
AXIS Bank* 120,432 10,040 37 (76) 5 (83) N.A. Apr 27 11
Bandhan Bank* 22,695 7,954 (11) (58) 9 174 N.A. — 7
Bank of Baroda* 112,957 40,662 31 129 4 6 N.A. — 8
Bank Of India* N.A. N.A. N.A. N.A. N.A. N.A. N.A. — 0
Canara Bank* 89,636 31,117 28 87 4 8 N.A. — 3
Federal Bank* 20,245 8,275 33 53 3 3 N.A. May 5 10
ICICI Bank* 171,380 90,166 36 28 4 8 N.A. Apr 22 11
IDFC First Bank* 34,785 6,589 30 92 6 9 N.A. Apr 29 5
Indian Bank * 56,627 15,152 33 54 3 9 N.A. — 3
IndusInd Bank* 47,355 20,290 19 49 5 4 N.A. Apr 24 11
Kotak Mahindra* 59,516 29,664 32 7 5 6 N.A. Apr 29 10
Punjab National Bank* 92,917 10,734 27 433 1 N.A. N.A. — 7
SBI* 394,480 151,410 26 66 4 7 N.A. — 11
Union Bank Of India* 90,279 22,662 33 57 5 1 N.A. — 3
YES Bank* 20,051 2,768 10 (25) 2 437 N.A. Apr 22 2
Total 1,345,285 451,376 29 33 4 14
CEMENT
ACC + 47,044 2,921 9 (26) 4 158 5,399 Apr 27 7
Ambuja Cements 41,925 4,816 7 (3) 2 31 7,636 May 2 7
Dalmia Bharat + 38,800 3,904 15 47 16 91 8,024 Apr 25 4
Grasim Industries 65,138 3,437 2 (68) 5 34 7,247 — 2
Ramco Cements 21,617 880 27 (29) 9 31 3,088 — 4
Shree Cement 45,924 4,689 12 (27) 13 69 9,380 — 7
UltraTech Cement 185,264 17,350 22 (29) 23 75 32,526 Apr 28 5
Total 445,711 37,996 14 (30) 13 67
CHEMICAL
Astral + 15,362 1,584 10 12 21 70 2,476 — 3
Coromandel International + 55,021 3,295 30 14 (34) (37) 5,242 — 2
Deepak Nitrite 19,283 2,317 157 62 136 105 3,464 — 2
Gujarat Fluorochemicals + 14,323 3,099 33 40 1 (6) 4,738 — 3
Navin Fluorine International 6,022 1,158 51 47 42 42 1,727 May 13 3
PI Industries 16,299 3,050 21 49 4 (14) 4,019 — 4
Tata Chemicals + 38,911 4,739 12 2 (6) 19 9,159 — 2
UPL + 173,103 15,233 9 10 27 40 38,603 — 3
Total 338,323 34,474 19 18 7 16
CONSUMER ELECTRICAL
Voltas + 29,602 1,714 12 (6) 49 N.A. 2,352 Apr 26 5
Whirlpool of India 17,530 1,083 9 36 50 908 1,565 — 3
Total 47,132 2,797 11 7 49 N.A.
DIVERSIFIED
Adani Enterprises + N.A. N.A. N.A. N.A. N.A. N.A. N.A. — 0
Total N.A. N.A. N.A. N.A. N.A. N.A.
ELECTRICAL
Adani Power + N.A. N.A. N.A. N.A. N.A. N.A. N.A. — 0
Bharat Electronics 65,198 11,115 5 (3) 61 86 15,531 — 4
Crompton Greaves Consumer Electricals 16,876 1,124 10 (38) 33 33 1,955 — 4
Dixon Technologies (India) + 29,671 604 0 (4) 23 16 1,284 — 3
Havells India 49,147 3,451 11 (2) 19 22 5,083 May 3 5
Polycab India + 42,671 3,799 7 18 15 6 5,212 — 3
Total 203,562 20,093 7 (3) 31 46
ENGINEERING – CAPITAL GOODS
BHEL 89,810 3,700 18 (59) 82 19 7,720 — 3
CG Power and Industrial Solutions + 17,123 1,607 14 44 (4) (29) 2,266 May 8 1
Cummins India 18,323 2,578 25 36 (15) (28) 2,953 — 4
Honeywell Automation India 8,249 850 23 17 (19) (20) 992 — 2
Hindustan Aeronautics 120,543 29,108 4 (6) 113 152 32,446 — 2
L&T + 547,685 41,612 4 15 18 63 65,791 — 4
Siemens 42,765 3,947 25 20 19 (10) 5,203 — 4
Total 844,497 83,401 7 0 29 62
FINANCE
Aditya Birla Capital N.A. N.A. N.A. N.A. N.A. N.A. N.A. — 0
Bajaj Finance +* 67,878 29,337 41 21 15 (1) N.A. Apr 26 5
Bajaj Finserv +* N.A. 17,073 N.A. 27 N.A. (4) N.A. Apr 27 1
Bajaj Holdings & Investment*+ N.A. N.A. N.A. N.A. N.A. N.A. N.A. Apr 27 0
Cholamandalam Investment and Finance * 17,666 7,296 (60) 6 11 7 N.A. May 3 6
HDFC Asset Management Co* 5,904 3,610 14 5 6 (2) 4,204 Apr 25 4
HDFC Life Insurance Co# N.A. 3,917 N.A. 10 N.A. 24 N.A. Apr 26 2
HDFC* 50,187 38,038 9 3 4 3 N.A. May 4 7
Indian Railway Finance Corp * N.A. N.A. N.A. N.A. N.A. N.A. N.A. — 0
L&T Finance Holdings *+ 19,426 4,861 25 51 1 7 N.A. Apr 28 3
LIC Housing Finance* 17,094 8,501 4 (24) 6 77 N.A. — 4
Life Insurance Corporation of India * N.A. 8,794 N.A. (63) N.A. (86) N.A. — 1
M&M Financial Svcs* 16,526 6,275 10 4 2 (0) N.A. Apr 28 5
Max Financial Services* N.A. 2,655 N.A. N.A. N.A. 4,872 N.A. May 12 1
Muthoot Finance* 17,951 9,422 4 (2) 5 4 N.A. — 6
One 97 Communications + 24,303 (3,073) 58 N.A. 18 N.A. (2,480) — 1
PB Fintech + N.A. N.A. N.A. N.A. N.A. N.A. N.A. — 0
Poonawalla Fincorp + 3,325 1,507 (35) 26 (52) (17) N.A. Apr 26 1
Power Finance Corp* N.A. N.A. N.A. N.A. N.A. N.A. N.A. — 0
REC* N.A. N.A. N.A. N.A. N.A. N.A. N.A. — 0
SBI Cards And Payment Services 11,296 5,774 13 (1) (1) 13 N.A. — 5
SBI Life Insurance Co# N.A. 7,320 N.A. 9 N.A. 141 N.A. Apr 26 2
Shriram Finance* 43,395 18,154 72 67 7 2 N.A. — 4
Total 294,952 171,503 12 6 6 (20)
FMCG
Britannia Industries + 40,279 4,949 15 30 (2) (47) 7,133 — 6
Colgate Palmolive 13,428 2,852 4 (12) 5 17 4,150 — 7
Dabur India + 23,365 3,580 (7) 22 (23) (25) 4,499 May 4 7
Godrej Consumer + 32,114 4,373 11 20 (10) (20) 5,986 — 4
Hindustan Unilever 153,291 25,779 16 11 2 3 36,573 Apr 27 7
ITC 167,768 48,998 9 17 4 (3) 62,495 — 7
Jubilant Foodworks 12,861 665 11 (43) (2) (25) 2,181 — 6
Marico + 22,180 2,748 3 9 (10) (16) 3,868 May 5 6
Nestle India 44,787 6,849 13 15 6 9 8,719 Apr 25 7
Procter Gamble Hygiene N.A. N.A. N.A. N.A. N.A. N.A. N.A. — 0
Tata Consumer Products + 34,986 2,403 10 10 1 (34) 4,671 Apr 25 5
United Breweries 18,133 1,198 6 (26) 13 N.A. 1,989 — 2
United Spirits 23,834 1,767 (2) 30 (14) 60 2,904 — 3
Varun Beverages + 36,038 3,832 27 51 63 413 7,416 May 2 6
Total 623,063 109,992 11 14 2 (3)
HEALTHCARE
Apollo Hospitals + 43,756 1,989 23 121 3 30 5,306 — 4
Fortis Healthcare + 16,224 1,372 18 703 4 6 2,995 — 2
Max Healthcare Institute + 15,015 2,828 60 129 32 27 4,171 — 2
Total 74,994 6,188 28 168 8 22
HOTELS
Devyani International + 7,543 359 28 (53) (5) (50) 1,490 — 4
Indian Hotels Co + 15,620 2,887 79 289 (7) (25) 5,030 — 3
Total 23,163 3,246 58 116 (6) (29)
IT
Coforge + 21,706 2,622 25 26 6 15 4,003 Apr 27 10
HCL Tech + 266,406 38,335 18 7 (0) (6) 57,470 Apr 20 13
Info Edge India 5,669 1,878 24 56 2 N.A. 2,148 — 3
LTIMindtree + 88,448 11,763 106 85 3 18 15,667 Apr 27 13
L&T Technology Services + 20,729 3,072 18 17 1 1 4,417 Apr 26 7
Mphasis + 35,188 4,153 7 6 0 1 6,179 Apr 27 7
Oracle Financial Services Software + 22,670 2,790 78 (42) 56 (36) 3,550 Apr 26 1
Persistent Systems + 22,497 2,729 37 36 4 15 4,158 Apr 24 7
Tata Elxsi 8,480 1,940 24 21 4 (0) N.A. — 1
Tech Mahindra + 138,308 13,080 14 (13) 1 1 20,379 Apr 27 13
Wipro + 235,299 31,673 13 3 1 4 44,677 Apr 27 12
Total 865,399 114,037 22 7 2 2
LOGISTICS
Container Corp 20,523 2,874 0 12 3 (3) 4,559 — 5
Delhivery + 16,690 (119) (19) N.A. (8) N.A. 2,643 — 4
Total 37,213 2,755 (10) 101 (2) 173
MEDIA
Sun TV Network 8,361 3,899 0 (4) (2) (6) 5,242 — 4
Zee Entertainment + 20,337 840 (12) (54) (4) 245 2,084 — 6
Total 28,697 4,738 (9) (19) (3) 8
METAL
Hindalco Industries + 556,299 20,994 (0) (45) 5 54 52,364 — 5
Hindustan Zinc 86,466 23,969 0 (18) 13 11 41,178 Apr 21 2
Jindal Steel & Power + 131,069 11,365 (9) (25) 5 119 76,848 — 4
JSW Steel + 451,834 20,115 (2) (38) 17 311 64,533 May 19 5
Steel Authority of India 294,127 13,363 (4) (45) 17 188 34,862 — 6
Tata Steel + 598,143 8,979 (13) (91) 5 N.A. 56,612 May 2 6
Vedanta + 340,548 30,724 (13) (47) 1 25 85,493 — 2
Total 2,458,486 129,508 (7) (56) 8 148
OIL & GAS
Adani Total Gas+ N.A. N.A. N.A. N.A. N.A. N.A. N.A. — 0
Adani Wilmar + 160,117 3,021 970 29 937 23 5,924 — 1
BPCL 1,131,713 50,547 9 112 (5) 158 79,836 — 8
GAIL 312,204 12,095 16 (55) (12) 392 17,469 — 8
Gujarat Gas 37,666 2,796 (19) (37) (1) (25) 4,617 — 7
Hindustan Petroleum 1,024,832 22,027 5 23 (6) 1,177 40,266 — 7
Indian Oil Corp 1,859,654 62,828 5 4 (9) 1,302 105,283 — 8
Indraprastha Gas 36,920 3,738 53 3 (1) 34 5,205 — 8
NMDC 57,280 16,090 (15) (11) 54 81 20,765 — 4
Oil India 54,605 16,472 22 1 2 (6) 26,857 — 5
ONGC 361,570 107,649 5 22 (6) (3) 197,499 — 7
Petronet LNG 148,321 8,427 33 12 (6) (29) 12,765 — 6
Reliance Ind + 2,163,849 174,049 4 7 (0) 10 370,504 Apr 21 6
Total 7,348,730 479,737 8 11 (3) 40
PAINT
Asian Paints + 87,575 11,395 11 34 2 6 17,029 May 11 7
Berger Paints India + 78,998 2,342 261 6 193 17 3,853 — 4
Pidilite Industries + 27,764 3,252 11 28 (7) 7 4,999 May 8 5
Total 194,337 16,989 54 28 36 8
PHARMA
Abbott India 13,870 2,540 11 20 5 3 3,210 — 1
Alkem Laboratories + 28,401 3,102 14 188 (7) (32) 4,438 — 2
Aurobindo Pharma + 63,686 5,370 10 (32) (0) 9 10,031 — 4
Biocon + 36,327 1,495 51 (37) 24 N.A. 8,302 — 3
Cipla + 56,264 6,290 8 74 (2) (40) 10,852 May 12 5
Divi's Laboratories 18,105 3,452 (27) (61) 7 11 5,002 — 3
Dr Lal Pathlabs + 5,150 635 6 4 5 20 1,266 — 2
Dr. Reddy's Lab + 61,491 9,746 13 905 (9) (22) 15,583 May 10 5
Gland Pharma + 9,874 2,409 (10) (16) 5 4 3,029 — 3
IPCA Laboratories 14,608 1,030 25 (7) 2 (14) 1,980 — 2
Laurus Labs + 15,265 2,043 7 (11) (1) 1 3,728 Apr 27 1
Lupin + 42,233 1,896 9 N.A. (1) 24 5,141 — 5
Piramal Enterprises + N.A. N.A. N.A. N.A. N.A. N.A. N.A. — 0
Sun Pharma + 108,366 18,399 15 N.A. (2) (16) 27,397 — 4
Syngene International N.A. N.A. N.A. N.A. N.A. N.A. N.A. Apr 26 0
Torrent Pharma + 24,406 3,217 16 N.A. (1) 33 7,244 — 4
Zydus Lifesciences + 37,122 5,592 (4) 68 (15) (10) 8,687 — 4
Total 535,166 67,214 10 697 (2) (11)
PORT
Adani Ports and SEZ + 49,091 15,789 28 54 3 20 30,128 — 2
Total 49,091 15,789 28 54 3 20
POWER & ENERGY
ABB India 22,815 1,580 17 (58) (5) (48) 1,998 May 3 5
Adani Green Energy + N.A. N.A. N.A. N.A. N.A. N.A. N.A. — 0
Adani Transmission + N.A. N.A. N.A. N.A. N.A. N.A. N.A. — 0
Coal India + 294,726 51,627 (2) (23) (9) (33) 65,076 — 4
JSW Energy + 23,631 2,989 (3) (78) 5 66 7,420 — 2
NHPC 16,540 5,769 10 3 (27) (26) 7,555 — 2
NTPC 404,559 48,619 23 (14) (2) 9 120,452 — 4
Power Grid 116,099 40,260 14 (7) 8 9 101,889 — 4
Tata Power + 144,259 10,921 21 117 2 16 20,801 May 4 3
Torrent Power + 50,539 6,739 35 N.A. (22) (2) 13,588 — 1
Total 1,073,167 168,503 13 (11) (4) (11)
REALTY
DLF + 14,043 3,998 (9) (1) (6) (23) 3,977 — 2
Godrej Properties + 9,809 3,288 (26) 26 400 460 2,777 — 2
Oberoi Realty + 11,392 3,833 38 65 (30) (45) 5,029 — 2
Prestige Estates + 24,086 1,820 0 (81) 4 42 6,061 — 2
Total 59,329 12,937 (3) (30) 5 (8)
RETAIL
Aditya Birla Fashion 27,351 (1,215) 25 N.A. (19) N.A. 2,617 — 5
Avenue Supermarts 106,323 5,008 24 7 (6) (22) 8,235 — 6
Bata India 7,735 582 16 (7) (14) (30) 1,709 — 4
FSN E-Commerce Ventures + 12,940 (4) 33 N.A. (12) N.A. 667 — 2
Page Industries 11,580 1,306 4 (31) (5) 6 2,026 — 5
Titan Co 89,789 7,210 33 47 (14) (24) 10,632 May 3 5
Trent 20,236 638 71 (15) (7) (60) 2,288 Apr 27 5
Zomato + 21,225 (3,466) 75 N.A. 9 N.A. (3,519) — 3
Total 297,181 10,058 31 2 (9) (40)
TELECOM
Bharti Airtel + 356,309 24,966 13 24 (0) 57 183,234 — 6
Indus Tower + 67,894 12,105 (5) (34) 0 N.A. 34,967 Apr 26 2
Tata Teleservices (Maharashtra) N.A. N.A. N.A. N.A. N.A. N.A. N.A. Apr 24 0
Vodafone Idea + 105,616 (79,877) 3 N.A. (0) N.A. 41,625 — 4
Total 529,819 (42,806) 8 N.A. (0) N.A.
TEXTILE
SRF + 37,007 5,421 6 (10) 10 6 9,073 — 4
Trident N.A. N.A. N.A. N.A. N.A. N.A. N.A. — 0
Total 37,007 5,421 6 (10) 10 6
TRAVEL & TOURISM
IRCTC 9,680 2,638 40 23 5 3 3,433 — 2
Total 9,680 2,638 40 23 5 3
Grand Total 20,340,246 2,068,013 11 8 3 17

EARNINGS DECLARED SO FAR
Company name Sales Informist PAT Informist EPS Result
estimates estimates (in Rs) Date
HDFC Bank* 233,518 236,380 120,475 121,300 21.49 Apr 15
ICICI Lombard General Insurance Co# 40,473 N.A. 4,370 3,490 8.89 Apr 18
Infosys + 374,410 388,607 61,280 66,459 14.77 Apr 13
TCS + 591,620 594,728 113,920 115,402 31.14 Apr 12
Tata Communications + 45,687 45,836 3,260 3,343 11.44 Apr 19


Note:
+ Consolidated Figure
* Net interest Income
# Net premium income
Y-o-Y: Year-on-Year
Q-o-Q: Quarter-on-Quarter
N.A.: Not Available
Rs: Rupees

Estimates from:

Anand Rathi Share and Stock Brokers Ltd, Axis Securities, BNP Paribas, Elara Capital, Emkay Global Financial Services Ltd, HDFC Securities Ltd, ICICI direct.com Research, ICICI Securities Ltd, IDBI Capital Market Services Ltd, Jefferies Group, Kotak Institutional Equities, Motilal Oswal Securities Ltd, Nirmal Bang Equities Pvt Ltd, Nuvama Wealth Management Ltd, PhillipCapital (India) Pvt Ltd, Prabhudas Lilladher Pvt Ltd, Sharekhan Ltd and YES Securities (India) Ltd.

End

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