Missing the mark: India lags peers on earnings show in June quarter

As against brokerages' estimates of a 12% growth, Nifty earnings growth has been a tepid 5%

Foreign institutional investors (FIIs) have one more reason to curb their flows into India and look at other markets within the Asian basket. Within the Asian markets, India has delivered one of the worse corporate earnings scorecards in the June quarter. 

Data sourced and collated by Reuters showed that 61 per cent of Indian companies had missed consensus earnings estimates in the June quarter. This was only slightly better than South Korea, where 63 per cent of companies missed estimates. According to market participants, the weak earnings performance by India Inc can further push away FII flows chasing the Asian markets. 

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