Motilal Oswal: Earnings Q1 Review - Beats Muted Expectations; Nifty EPS Revised Up Marginally

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.The June-quarter (Q1 FY21) corporate earnings for our coverage universe were better than our muted expectations.Sales were impacted by the Covid-19-led lockdowns; however, Corporate India undertook stringent cost control measures to protect their bottom line and arrested the decline in operating profit.Healthcare, utilities, private banks and technology sectors reported YoY profit growth, while autos, retail, metals and telecom posted losses.Overall, management commentaries indicated moth on month improvement in demand during the quarter after easing of the lockdown restrictions.Nifty sales declined 29% YoY (versus estimate -30%), while Ebitda/profit before tax/profit after tax declined 6%/30%/26% YoY (versus estimate decline of 11%/39%/35%).While more than 50% of Nifty-50 companies reported a beat on our profti after tax estimates, results of some key index heavyweights like Reliance Industries Ltd., Tata Consultancy Services Ltd. and ITC Ltd. were below expectations..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Motilal Oswal: Earnings Q1 Review - Beats Muted Expectations; Nifty EPS Revised Up Marginally

Motilal Oswal: Earnings Q1 Review - Beats Muted Expectations; Nifty EPS Revised Up Marginally

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