With the March quarter results for FY22 coming to an end, brokerage firm Kotak Institutional expects net profits of Nifty-50 Index likely to grow 14 per cent in the current financial year. The fourth-quarter earnings were moderately below expectations, the domestic brokerage said.
While listing factors for FY23, the brokerage said that the steep recovery in profits of the automobiles sector will increase both profitability and volumes of the sector. Similarly, it added that the continued strong growth in profits of banks on a further decline in loan-loss provisions will increase the relative income of banks.
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Meanwhile, a large jump in profits of ONGC led by higher oil and gas prices and general recovery across sectors would offset the likely decline in net profits of the metals & mining sectors, Kotak Institutional Equities said in an expectations report.
Meanwhile, a large jump in profits of ONGC led by higher oil and gas prices and general recovery across sectors would offset the likely decline in net profits of the metals & mining sectors, Kotak Institutional Equities said in an expectations report.
Earnings for Q4 FY22 so far have stood strong, revenue growth year on year (YoY) basis is around 22 per cent, while profit growth is at 41 per cent, with the financial sector being the main driver, the domestic brokerage firm YES Securities said in a report.
