Bloomberg data shows March quarter earnings figures offered noteworthy positive surprises
The corporate earnings for the January-March 2014 quarter offered notable positive surprises; with a Bloomberg compilation revealed that a positive earnings surprise of 16 percent – as against consensus estimates – was posted collectively by a sample of 169 listed companies.
According to Bloomberg, the list of companies collectively posting the positive earnings surprise for the March quarter included firms from the IT, pharma and consumer arena. These firms have – during the past couple of quarter – leading the corporate earnings.
In addition, the Bloomberg compilation also revealed that a few companies from the cyclical space also apparently managed to surpass the Street estimates for the three-month period which ended in March 2014.
As per the Bloomberg compilation, the quarterly earnings of companies like HDIL, Indiabulls Real Estate, IRB Infra, ACC, Reliance Infra and Gujarat Pipavav Ports beat analyst estimates by 22 percent to 65 percent.
Bloomberg also revealed that companies like Adani Enterprises and Ashok Leyland too reported better-than-estimated earnings.
Moreover, the positive earnings surprises were also driven by HCL Tech, Wipro, Infosys, TCS and pharma and consumer companies, Lupin, Dabur, and Godrej Consumer Products, which reported a 2 percent to 12 percent better performance than the Street expectations.
Meanwhile, so far as the companies that failed to meet the Street estimates for the March quarter are concerned, the Bloomberg data showed that these companies included Glenmark Pharma, Dr Reddy’s lab, Nestle India, Jindal Steel & Power, and Reliance Communications.
Source: The Financial Express
ACC, Bloomberg, Bloomberg compilation revealed, Gujarat Pipavav Ports, HDIL, Indiabulls Real Estate, IRB Infra, January March 2014, quarter earnings, Reliance Infra
