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India's largest firms' earnings drop in Q4
(MENAFN) Earnings of India's largest companies fell more than expected in the latest quarter, adding to official figures showing the country's economic growth outpaced China's, Gulf Times reported.
The total net income of 100 firms with a market value of more than USD100 million dropped 6 percent in the fourth-quarter period on-year, compared with a 0.5 percent expected increase.
"This has been the worst quarter in recent memory, with so many large caps disappointing. The economy had better kick start after the budget, or otherwise we are looking for any reason to trim positions," analysts said.
The total net income of 100 firms with a market value of more than USD100 million dropped 6 percent in the fourth-quarter period on-year, compared with a 0.5 percent expected increase.
"This has been the worst quarter in recent memory, with so many large caps disappointing. The economy had better kick start after the budget, or otherwise we are looking for any reason to trim positions," analysts said.
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