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Q1FY18 earnings a disappointment but equities still best investment bet

Overall earnings growth in 1QFY18 was muted due to GST-related destocking and discounts in a couple of consumption related sectors and export/global oriented businesses continuing with the sluggish trend.

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Last Updated : Aug 31 2017 | 10:03 AM IST

The latest earnings season (first quarter of the financial year 2018 - Q1FY18) was a disappointment. The results suggest that the underlying conditions in several sectors and the broader economy continue to be weak. Q1FY18 net profits of the Nifty-50 Index declined by about 10% Y-o-Y, much worse than consensus expectations. There have been downgrades in full year expectations for FY18 post first quarter results, but we believe that the expectations are still elevated.

Overall earnings growth in 1QFY18 was muted due to GST-related destocking and discounts in a couple of consumption related sectors and export/global oriented businesses continuing with the

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