Q1 earnings: Auto companies lag behind Street estimates by wide margin

Investor sentiment for a majority of auto companies has been muted after the first-quarter earnings showed that revenues and profits varied from analysts’ estimates.

In a not-so-usual trend, the miss was most evident in revenue earned by companies during the quarter, even as profits and margins also lagged behind expectations.

Eight auto companies — Tata Motors (standalone), Maruti Suzuki, Mahindra and Mahindra, Hero MotoCorp, Bajaj Auto, Ashok Leyland, TVS Motor and Eicher Motors — reported net sales of Rs 811.49 billion against the Bloomberg estimates of Rs 830.79 billion, a lag of 14.80 per cent.

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