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The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks

The corporate earnings for the quarter ending December 31, 2022 (Q3FY23) were lower than expected, with a year-on-year (YoY) decline in net profit of non-financial firms (those excluding banks, non-banking finance companies and insurance firms).

This triggered an earnings per share (EPS) downgrade by brokerages after nearly one and half years of earnings upgrade. EPS refers to how much net profit a company makes for every share owned by its owners and shareholders. 

For example, brokerages now expect 26 of the fifty Nifty50 index companies to report lower EPS in FY23 compared to their estimates prior to Q3FY23