Corporate
earnings showed the first signs of recovery in the December quarter as the
negative effects of demonetization and the consecutive goods and services tax
(GST) implementation started to reverse, but analysts stopped short of calling
it a full-blown turnaround.
A Mint analysis
of 2,040 listed companies showed that aggregate net profit, after adjusting for
one-time gains and losses, rose 11.1% in the three months ended December, the
highest in the past four quarters. This sample excludes banks, financial
services firms and oil & gas companies.
The
earnings were a mixed bag with early signs of economic recovery, said Nischal
Maheshwari, head, institutional equities, Edelweiss Securities Ltd.
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