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Top Five Sensex Outperfomers In The Third Quarter

The five Sensex companies that took analysts by surprise in the third quarter.

A bronze bull statue stands at the entrance to the Bombay Stock Exchange building. (Photographer: Dhiraj Singh/Bloomberg)
A bronze bull statue stands at the entrance to the Bombay Stock Exchange building. (Photographer: Dhiraj Singh/Bloomberg)
Top Five Sensex Outperfomers In The Third Quarter

As the third quarter earnings season draws to a close, all Sensex companies have declared their financial performance for the October-December quarter. While 12 stocks failed to meet analyst estimates polled by Bloomberg, nine met expectations and another nine out of the 30 stocks on the Sensex, beat estimates. Here are top five companies which surpassed analysts' estimates in terms of their adjusted earnings per share by a significant margin.

Topping the list, was Mahindra and Mahindra Ltd. reporting an Adjusted EPS of Rs 22.73 for the third quarter. This was 62 percent higher than analyst estimates. The earnings beat was mainly driven by a 20 percent rise in farm equipment and tractor sales, both high-margin businesses.

Dr Reddy’s took the second spot by reporting an adjusted EPS of Rs 29.72, a beat of nearly 26 percent, despite its profit falling 16 percent, year-on-year.

ICICI Bank standalone adjusted EPS surpassed consensus estimates by a margin of 14.50 percent in December. The bank reported a 19.1 percent fall in profit for the October to December quarter of the financial year 2016-17, but managed to beat estimates . A nearly 62 percent drop in provisions, quarter-on-quarter helped net income beat street estimates.

The country's largest 2-wheeler maker, Hero MotoCorp Ltd. also beat EPS estimates by a margin of 6 percent despite the demonetisation bump.

A 5 percent beat on the adjusted EPS for Tata Consultancy Services surprised investors.. The India's largest company in terms of market capitalisation surpassed estimates on new contracts and a push into cloud computing and digital services that is helping weather lacklustre global IT spending.