September quarter weak for companies in India as well as across Asia

Mumbai: The poor performance of companies in the September quarter was not limited to India only but was seen in most Asian countries except Japan.

Nomura’s report said that in the September quarter of the current financial year, the revenue growth of companies in most Asian countries except Japan was weak.
The results of the companies have been weaker than expected. Of the 87 Indian companies covered by Nomura, 48 companies missed estimates and 29 companies beat estimates, while results of ten companies were in line with expectations. These companies are also included in MSCI indices.

On the other hand, Nomura further said that incentives in China have been met, but 49 out of 87 companies have reported weaker-than-expected September quarter results.

Of the 63 Korean companies, 42 performed poorly while 18 performed better than expected.

The results of two out of five Singapore companies were weak, while the September quarter results of one company were as expected.