Market Drifts Higher, Discounting the Worst
The much-awaited results of the June quarter are upon us. As expected in most cases, the results have been disastrous. Just to give some examples of the finest Indian companies: Pidilite’s revenues fell from Rs2,017 crore in the June quarter last year to Rs878 crore (down 57%) this year, while net profit was down Rs293 crore to Rs27 crore (down 91%). Whirlpool reported a 92% fall in net...
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