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A majority of the companies delivered good deal wins and highlighted a strong pipeline,” said a report by Motilal Oswal.īanks too reported strong profit growth during the quarter as asset quality improves across the broad. “Amid heightened concerns over a weakening macro environment, management of most of the companies are not seeing any impact on the pipeline. Nifty 50 companies with negative PAT growth on year Nifty 50 companies with positive PAT growth on year The first is the country’s most watched company and stock – Reliance Industries, which posted weaker than-expected performance, thereby dragging down Nifty earnings. This is the second heavyweight company that disappointed the street. It attributed sharp losses to inflation, China lockdowns, chip supply issues, and volatile forex and commodity prices. Tata Motors missed analyst estimates as its net loss widened by five times to ₹4,950 crore as against ₹992 crore loss reported in the previous quarter. Bajaj Finance too doubled its profits as consumer love for vehicles remained intact. India’s largest car maker Maruti Suzuki reported a two-fold surge in consolidated net profit at ₹1,036 crore on year while margins remained under stress due to the rise in commodity prices. Most other sectors were hit by the rapid increase in global commodity prices during the quarter, but automakers overcame this hurdle. Metal companies, however, were outliers with negative growth in profitability because of volatility in commodity prices. However, the report also credits banks for leading the June quarter performance as their profitability improved as their asset quality improved. More than half of the companies that have announced their earnings so far have either met or exceeded street expectations, according to a report by Motilal Oswal.
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