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Chart of the day | Indian companies narrowly miss earnings estimates

Chart of the day | Indian companies narrowly miss earnings estimates
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First Published: Tue, Nov 29 2011. 12 44 AM IST

Updated: Tue, Nov 29 2011. 12 44 AM IST
Indian companies have missed earnings estimates for the September quarter by a mere 1%, according to Morgan Stanley. In this respect, they have done rather well compared with companies in other Asian markets. The chart shows that in Taiwan and Korea, earnings have been missed by 22% and 20%, respectively. In India, 26% of companies beat estimates, 38% had results in line with estimates, while 35% of companies missed estimates.
Despite the Indian market’s relatively better performance on the earnings front, the MSCI India index has underperformed MSCI EM Asia this month; it was down 17.94% during the month to 25 November, compared with an 11.55% decline for the MSCI EM Asia index. Going by the earnings surprise, that underperformance should correct in the near future.
Also See | Chart of the day (PDF)
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First Published: Tue, Nov 29 2011. 12 44 AM IST