Who wrote this article?

Deepak Shenoy, Capitalmind's research team.

Results Till Now: Nifty Companies See 11% Drop In Revenues, Profits as Cement Players Falter

28 Apr 2015Deepak Shenoy1 min read

Quick Facts

What is "Results Till Now: Nifty Companies See 11% Drop In Revenues, Profits as Cement Players Falter" about?
What category is this article in?: Charts And Analysis
Who wrote this article?: Deepak Shenoy, Capitalmind's research team.
When was this article published?: Published 28 April 2015.
How long does this article take to read?: 1 min read
What topics does this article cover?: Nifty
What does the "Consolidated and Added Up: Minus 11%" section say?: If you add all the profits and revenues of the companies that have announced results, we are already seeing a 11% drop in both revenues and profits.

Nifty Company results, till now, have had it rough, with a 11% drop in cumulative profits in the quarter, compared to last year.

The worst performers have been Cement companies, with ACC and Ultratech losing over 25% in profits.

The **IT sector **saw TCS lose 30% on that big fat bonus payment, but HCLTech, Wipro and Infosys barely kept their heads above water, in terms of profit growth. (low single digits in percentage growth)

Of the Banks, HDFC Bank and IndusInd both grew profits at 20% or more, but ICICI Bank disappointed with a mere 13% growth in net profit.

Cairn slipped from a 3,000 cr. profit to a loss in the quarter. The other oil and gas player, Reliance Industries, saw profits up 8.5% even as revenues declined by a third.

Maruti had impressive results, with a 60% growth in EPS.

Consolidated and Added Up: Minus 11%

If you add all the profits and revenues of the companies that have announced results, we are already seeing a 11% drop in both revenues and profits.

Cairn is the biggest culprit on the profit front, having reversed from profits to losses on oil. And Reliance too saw a revenue drop of over 35,000 cr. for the quarter, which hurt revenues big. Even if you removed both of them, revenue increases were only 11% over the previous year, and profits of the rest still went down by 2%.

This isn’t looking good. If you think markets are down and want a reason for them to go even further down, this is as good a reason as any. Our top company results are disastrous.