Most Nifty 50 firms beat sales estimates, many fare worse on profitability

Companies with a larger profit helped the overall Nifty50 EPS register growth, despite the average company in the set taking a hit

Companies that are part of the Nifty50 index, among India’s largest names, have largely beaten sales estimates for the March quarter of financial year 2021-22 (Q4FY22).

A total of 28 companies recorded higher revenue than what analysts had estimated, shows a May 31 note from Mumbai-based Anand Rathi Share and Stock Brokers. However, only 19 of the 50 firms made higher-than-expected profits.

The average company recorded 10.8 per cent higher sales numbers than expected. The average profit, represented by earnings per share (EPS), was 7.1 per cent lower than estimated.

The Oil and Natural Gas Corporation (ONGC) was among those recording higher revenues