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According to CRISIL Research, India Inc’s revenue growth for the quarter has slowed down by 80-90 basis points (bps) to 4-6% on-year, driven by weaker performance in the construction and industrial commodities sectors, as well as subdued investment-linked segments. However, profitability is expected to show a 40-50 bps improvement, driven by export-linked sectors such as IT services and pharmaceuticals. Other brokerage firms have also stated that revenue growth this quarter has slowed to around 5.2%, down from 6% in Q3FY24, due to extended monsoons and delayed government spending that affected the construction sector.
Several companies, including Religare Enterprises, Gland Pharma, Fortis Malar Hospitals, Aditya Birla Capital, and Castrol India, are releasing their Q3 results today. As of now, companies like Religare Enterprises, Gland Pharma, and Man Infraconstruction have reported their results, with Gland Pharma and Man Infraconstruction showing a decline in profit, while Gland Pharma reported a 6.69% growth in profit and Man Infraconstruction reported a 2.87% decline in profit.
Elara Securities, a brokerage firm, has commented on the Q3 results of several companies, including Prestige Estate Projects, Man Infracons, and Bandhan Bank. Elara Securities noted that Prestige Estate’s results came in line with their expectations, while Man Infraconstruction’s sales were record-breaking. Bandhan Bank, on the other hand, reported a soft quarter, with weaknesses across several fronts and high credit cost.
InCred Equities, another brokerage firm, has also commented on several companies’ Q3 results, including Blue Dart, IndusInd Bank, and Divi’s Labs. InCred Equities noted that Blue Dart’s Q3 sales grew by 9% yoy, but EBITDA margin rose by 39 bps. IndusInd Bank reported a credit slowdown across segments, and recovery is expected to be gradual. Divi’s Labs is expected to post 25% overall growth, with a 100 bps margin improvement.