Earnings of Indian companies fell for the first timein six quarters in the three months ended 31 March, underscoring subdued private consumption as households face an uncertain economic outlook. The earnings review excludes banks, financial services and oil and gas firms as they follow a different revenue model. “The revenue growth during the quarter was supported by the cement sector and IT sector. Weak volume growth reported by consumer staple companies in the fiscal-fourth quarter underlines a slowdown, said Kotak Institutional Equities. The interest coverage ratio (ICR) of these companies declined further in the fourth quarter compared to previous quarter.

Source: Mint June 02, 2019 18:33 UTC