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Economic conditions are not affected by business on weak: More than two -thirds of companies have better profits than expected, order book was excellent with good deal

Economic conditions are not affected by business on weak: More than two -thirds of companies have better profits than expected, order book was excellent with good deal

August 4th 2022, 8:31 am
Amitesh Kumar

The results for the first quarter of FY 2022-23 have emerged a positive picture of the corporate sector. Due to inflation and rising interest rates, more than half of the companies have declared the results in a challenging environment and the profits of more than two of them have been as expected or higher. Banks and automobile companies performed the best.

68% of the companies in the result were expected as expected, according to a report by Motilal Oswal, a report by Motilal Oswal, the companies that continued the results for the April-June quarter so far. Have done the profit of 68% of them as expected by the market. These also performed better than BFSI (Banking, Financial Services and Insurance), Auto and Cement Sector companies. The profits of metal companies declined by the rest. The profits of gas companies remained almost stable. HUL's profit in FMCG companies increased by 17%, while the profits of this sector decreased overall. According to the report, weak recovery in rural areas remains weak link in this sector.

Analysts of Business ineffectives with weak economic environment wrote in their report, 'Amid increasing concerns about weakness in the economy The management of most companies says that it will not affect their business. Most of the previous quarter made good deals and their order book is excellent. ”

The performance of public sector banks has improved the profits and asset quality of banks according to the most good. Government banks have been at the forefront of this matter. Due to this, the shares of public sector banks have been one of the best performing shares for the past one month. Their valuation is also reaching all time high.

Maruti surprised, but Tata Motors deficit was doubled by the expeditioning quarter Maruti Suzuki's profit to Rs 1,000 crore. But the Tata Motors deficit increased to 4,950 crores, which was Rs 992 crore in the March quarter. Apart from this, despite the increase in profit of Reliance industry, the result was weaker than the market estimate.

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