Red alert! 72 companies flip to loss in Q2. Are your stocks also on this list?
Birla Corporation, Borosil Renewables, Honasa Consumer and Poonawalla Fincorp, report losses on a year-on-year (YoY) basis.
Interglobe Aviation, which runs IndiGo airline, reported a loss of Rs 987 crore in Q2 vs a profit of Rs 189 crore in the corresponding quarter of the previous year. Similarly, Poonawalla Fincorp came up with Rs 471 crore loss as against a profit of Rs 855 crore in Q2 of FY24.
Other companies in the list include the likes of Chalet Hotels, RattanIndia Enterprises, Spandana Sphoorty Financial, IIFL Finance, TARC, VIP Industries, Shoppers Stop and Nuvoco Vistas.
As the slowdown in economic growth has flowed through to corporate earnings, Nifty earnings grew just 4% — slowest pace since June 2020 — while MSCI India profits grew 10%, 4 percentage points below consensus expectations.
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