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'Earnings to recover sharply in FY22 on economic revival'
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SME Times News Bureau | 17 Dec, 2020
Corporate earnings are likely to
witness a sharp revival in the next financial year backed by economic
recovery, said a report by Kotak Institutional Equities.
"We
expect 28 per cent and 19 per cent growth in net profits of the Nifty-50
Index in FY2022 and FY2023 following 11 per cent growth in FY202," it
said.
The report noted that the growth in FY2021 reflects low
base in a few sectors in FY2020 such as oil, gas and consumable fuels
reflecting large adventitious or inventory losses in 4QFY20 and telecom
reflecting low ARPUs and profits.
There is a possibility of
moderate earnings upgrade over the next few months and the extent of
earnings upgrades would be one of the key drivers of the market, it
added.
Nonetheless, a few sectors may disappoint if consumption,
especially discretionary consumption, was to decelerate on sustained
Covid-19 impact on household incomes, said the report.
It has
projected a strong recovery in the economy in FY2022 (9.3 per cent real
GDP growth) following the likely large contraction of (-)8.6 per cent in
FY2021.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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