The financial results of 33 Nifty companies are out and we seem to have a rough quarter on our hands, with average EPS growth of just 9.2%. An outlier exists in the form of Sesa Sterlite, which, by virtue of its merger with Sterlite and having to include Cairn in consolidation, saw a huge increase in the outstanding number of shares, and also had a one-time hit of Rs. 1650 cr. due to an accounting change. Minus Sesa Sterlite and Cairn we will still see EPS growth of 14%.
In the table, we have a list of all Nifty companies with results. We’ve used consolidated results where we can, and have adjusted past EPS for bonuses or splits. If we have something wrong, please let us know. (All figures are in Rs. Cr. except Earnings Per Share.)
Outstanding in their contributions are:
- Lupin and Dr. Reddys with excellent 50%+ EPS growth in the Pharma space.
- TCS, HCL Tech and Wipro did 25%+ (TCS stands out!)
- DLF dropped EPS 30%,
Banks Do Well
Profit wise, Banks are going strong, with 20% profit growth:
Great performances by Central Bank (428% on a low base), Federal Bank (doubled profits but again not that big a base, and State Bank of Mysore (40% EPS growth).
Many banks issued more capital so their EPS growth is slow in comparison with profit growth.
Capital Mind Premium: The Results Report
There’s a lot more out there. We have over 280 companies announcing results till yesterday, and we’ve compiled them in a convenient and easy-to-read PDF report, availlable to all subscribers of Capital Mind Premium.
Do let us know if any of the above data is wrong. Sector classifications are ours.