The September quarter earnings of companies across market capitalisation was largely better than expected, with a majority of them seeing robust growth in the profitability and bottomline amid easing cost pressures. At least seven companies, with a market capitalization of over Rs 500 crore, reported a net profit in the second quarter after posting losses in the three preceding quarters, data analysed by ETMarkets showed.
These companies are JITF Infralogistics, Asian Energy Services, DB Realty, Quick Heal Technologies, Indo-National, Genus Paper & Boards, and HCL Infosystems.
Asian Energy Services, the engineering solutions provider for the energy sector, reported a consolidated net profit of Rs 9.8 million in the September quarter, after reporting losses in the preceding three quarters. The company’s stock has gained 160% in the last year.
DB Realty, a real estate company, reported a consolidated net profit of Rs 896 crore in the September quarter, after reporting losses in the preceding three quarters. The company’s stock has gained 113% in the last year.
JITF Infralogistics, a company engaged in solid waste management, logistics, and transportation, reported a profit of Rs 25 crore in the second quarter, after trimming losses in the previous three quarters. The company’s stock has gained 365% in the last year.
Quick Heal Technologies, an information technology company, reported a profit of Rs 12.9 crore in the September quarter, after seeing easing of cost pressures. The company has given 95% returns year-to-date.
In the near term, analysts expect domestic-oriented sectors to perform well compared to commodity-facing and export-oriented ones. Retail participation is expected to drive the rally in midcap and smallcap sectors.
