Several large companies across aviation, defence, cement, chemicals, banks, healthcare, oil and gas, real estate and telecom are likely to report a double-digit fall in June-quarter profit, according to estimates by Motilal Oswal, as higher energy costs, weaker demand in select sectors and geopolitical uncertainty weigh on earnings. According to the estimates put out by the brokerage, as many as 44 stocks are likely to see a double-digit slump.
Motilal Oswal expects overall earnings growth to slow in the quarter, with its coverage universe likely to report 10% year-on-year profit growth. This is lower than the 18% and 15% growth seen in the previous two quarters. Excluding financials, profit growth is estimated at 9%, while excluding oil marketing companies, it is seen at 10%.
