Tata Steel Ltd, Coal India Ltd, ONGC Ltd, UPL Ltd and Grasim Industries Ltd are among 11 Nifty constituents that are expected to report either losses or drop in profit for the September quarter. This is against expectations of 18-21 per cent growth in profit for Nifty as a pack. BPCL, Tata Motors, HDFC Bank, Reliance and ICICI Bank, on the flip side, are likely to drive Nifty earnings.
Motilal Oswal sees Tata Steel to log 61 per cent drop in Q2 profit at Rs 596.90 crore on 5.7 per cent drop in sales at Rs 56,472 crore. Phillip Capital sees profit falling 56 per cent YoY to Rs 672 crore. Kotak Institutional Equities sees consolidated loss at Rs 151.90 crore on 5 per cent drop in sales at Rs 57,114 crore.
Phillip Capital sees Nifty companies to report a combined 3 per cent rise in sales, 19 per cent jump in Ebitda and 21 per cent surge in profit on yearly basis.
In the case of Coal India, Motilal Oswal sees profit falling 36.70 per cent YoY to Rs 3,827 crore on 6.4 per cent YoY rise in sales at Rs 31,753 crore.
Emkay expects ONGC to report 21.5 per cent drop in profit at Rs 10,062 crore on 7.4 per cent drop in sales at Rs 35,473 crore. It sees crude oil realisation for ONGC at $84.7 a barrel and expects oil/gas production volumes expected to decline by 1 per cent each YoY. Motilal Oswal sees ONGC's profit falling 21.6 per cent YoY to Rs 10,054 crore on 6.1 per cent drop in sales at Rs 36,000 crore.
PhillipCapital sees profit for UPL plunging 61 per cent YoY to Rs 451.60 crore. Motilal OSwal sees UPL logging profit at Rs 379 crore, down 63.7 per cent YoY. Sales for this company is seen at Rs 10,625 crore, down 15 per cent, Motilal Oswal said.
Grasim Industries, Motilal Oswal said, is seen reporting 37 per cent drop in profit at Rs 650 crore on 2 per cent YoY drop in sales at Rs 6,597.80 crore. Higher volumes are likely to be offset by lower realisations in both VSF and Chemical segments. Kotak’s profit is seen falling 16.8 per cent to Rs 802.70 crore.
Divis Labs, Sun Pharma, Tech Mahindra, Power Grid and LTIMindtree are some other companies that may report fall in Q2 profit growth in the September quarter.
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