Bright spots: India and Indonesia, shining stars in earnings constellation

Nomura's analysis reveals that India's beat-to-miss ratio stands at 13 per cent, second only to Indonesia, which is at 38 per cent

India and Indonesia have emerged as the bright spots in the Asian pack during the December 2023 quarter earnings season.

According to an analysis conducted by Nomura, of the 78 companies that are part of the Morgan Stanley Capital International (MSCI) India Index, 35 have exceeded Street estimates, 25 have fallen short, and earnings for 18 companies have met expectations.

These 78 companies account for three-fourths of the weighting in the MSCI India Index and 15.6 per cent in the MSCI Asia Ex-Japan (AxJ) Index.

Nomura’s analysis reveals that India’s beat-to-miss ratio stands at 13 per cent, second only to