Q4 results: Early birds disappoint; combined net of 104 firms down 0.5%

The full-year net profit growth is down 13.5% in FY19 over FY18 for the sample

The January-March 2019 period was expected to be a redeeming quarter for Corporate India and make up for the weak financial performance in the first three quarters of 2018-19 (FY19). However, if 104 early-bird companies’ earnings for fourth quarter (Q4) of FY19 are an indication, India Inc is then staring at another washout year in FY19. 

The combined net profit of these companies across sectors is down 0.5 per cent year-on-year (YoY) during the quarter, their worst showing in at least three years. The numbers exclude exceptional gains and losses (see chart).

In comparison, brokerages estimated Nifty50 companies’ net profit