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RSS FeedsLenders halve Nifty earnings show in June quarter
(WorldNews Business)

 
 

20 august 2018 02:04:51

 
Lenders halve Nifty earnings show in June quarter
(WorldNews Business)
 


Financial companies, including banks, are being a lingering drag on the overall Nifty earnings. Classified as BFSI (banking, financial services and insurance), these firms have more than halved the profit growth of the Nifty 50 universe. In the quarter ended June 30, 2018, net sales of 40 non-BFSI (out of Nifty 50 companies) grew 23.2% year on year (YoY), whereas their net profit grew 21.3%. In contrast, net interest income (NII) of 10 BFSI firms grew 20.4% YoY, but their bottomline or net profit declined by a whopping 47.4%. Combining the profit of 40 non-BFSI and 10 BFSI...


 
10 viewsCategory: Business
 
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