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This is an archive article published on January 10, 2012
‘Sensex cos’ profit growth seen at 9.2%’
Sensex cos' profit to be weakest in 8 quarters Reliance,Tata biggest drags,says BofA.
1 min read
Bank of America Merrill Lynch (BofA-ML) expects Sensex companies’ profit to rise 9.2 percent on consolidated basis in October-December and 11.1 percent on standalone basis,their weakest in the last eight quarters.
Eight of the 30 index constituents are likely to see a decline in profit.
The bank expects more earnings downgrades for FY13.
Similar to previous 2 quarters Sensex EBITDA margins are expected to show a drop of 160 bps to 17.8 percent.
This is largely led by energy (-380 bps on year),auto (-185 bps) and metals (-185 bps).
It is expected to show some margin gains (+125 bps) on rupee depreciation,the bank said in a note.
The biggest contributors to growth are Infosys,ICICI Bank,HDFC Bank,State Bank of India (SBI) and ITC are expected to be the key contributors to growth.
Tata Steel,Hindalco,Maruti,Tata Motors and Reliance Industries are expected to drag.
Stocks More on Tata Motors
Company INFO More on Hindalco
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