Post the announcement of Q3 results by listed companies, CITI came up with its India Equity Strategy report. The quarterly results have beaten CITI’s estimates on all fronts, that is, revenue, EBITDA and PAT, primarily led by auto, industrials and energy sectors. Here are four charts depicting trends witnessed in Q3FY24.
On an aggregate basis, India Inc outperformed expectations on all parameters. Revenue growth, which was expected to be flat to negative, surprised with a 5.5 per cent YoY growth in Q3FY24.
Energy, Industrials, Materials and Utilities continue to post higher earnings growth. Consumer facing sectors also reported positive growth in revenue and earnings.
InterGlobe Aviation witnessed the highest earnings revisions of 78 per cent and 38 per cent for FY24 and FY25, respectively, while for UPL and Zee Entertainment, earnings were revised downwards for the two years.
Inflows into mutual funds are gaining strength in the recent periods. Even compared to pre-Covid levels, MF inflows are on a higher plane.