Jefferies’ coverage universe of domestic companies reported a 30% YoY growth in fourth-quarter earnings, led by a strong financial performance. Meanwhile, revenue growth remained at mid-teen levels during the quarter. The brokerage is bullish on cyclicals, citing over 40% growth in property sales and cap-good order flow. Following the quarter, Jefferies raised FY24 estimates for 45% of 136 companies, while 51% were downgraded. Banks reported a 46% growth in earnings, while autos and pharma firms also saw positive results. However, IT firms had a weak quarter, with significant revenue misses and weak guidance for FY24 revenues.
CEAT Q3 Results: Net profit falls 46% to Rs 97 crore on high raw materials cost
CEAT Ltd’s Q3 consolidated net profit fell by 46.48% to Rs 97.03 crore due to high raw material costs. Revenue grew to Rs 3,299.9 crore,
January 15, 2025