ECONOMY

Q1 Review – Resilient Earnings, Limited Impact Of Second Covid-19 Wave: ICICI Direct

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Corporate earnings were resilient in April-June 2021 (Q1 FY22) amid Covid-19 resurgence pan-India.

It was primarily driven by limited impact on economic activity wherein corporate India largely operated unabated during the second Covid-19 wave.

This is in comparison to the central government led pan-India total lockdowns in April-June 2020 (Q1 FY21).

At the Nifty index level, excluding financials, net sales decline was limited to 7.5% on a sequential basis (QoQ) with Covid-19 impacted low base in Q1 FY21 making YoY comparison rather redundant.

On the operating profit front, the decline was limited to 6.7% amid ~15 basis points expansion in Ebitda margins to 19.2%.

Click on the attachment to read the full report:

ICICI Direct Earnings Wrap Q1FY22 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Most Related Links :
honestcolumnist Governmental News Finance News

Source link

Back to top button