BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Axis Securities Report
We expect the Q3 FY23 earnings season is likely to be a mixed bag. While the season will be led by sequential margin expansion driven by moderation in commodity prices and an uptick in credit growth, the export-oriented themes are likely to be laggards.
We believe the broad-based earnings momentum which remained robust for multiple quarters is likely to take a brief pause in Q3 FY23. Based on our consensus estimates, we forecast Nifty to deliver revenue/Ebitda/profit after tax growth of 15%/9%/8% respectively on a YoY basis.
Furthermore, excluding oil and gas and metals, Nifty revenue/Ebitda/profit after tax is expected to grow by 17%/17%/22% respectively over the same period.
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