Although the real impact of the US slowdown is yet to be felt, India Inc. is facing the brunt in advance
Though the sector-wise results – barring a few like banking and oil & gas – are not very encouraging, analysts are still upbeat on a few sectors like pharma and metals. Commenting on Q3 performance of pharma sector, Sarabjit Kour Nagra, VP Research, Angel Broking says, “Barring Dr Reddy’s (34% fall in gross sales), the numbers are in line with industry expectations.” During the quarter under consideration, pharma companies have managed a PAT growth of 22%; and as per many analysts, this is the end of the lean phase for the industry. Affirms Ramesh Adige, Executive Director, Global Corporate Affairs & Communications, Ranbaxy, “The next three years will see a strong global generics market opportunity unfold with an estimated $60-70 billion worth of branded products expected to go off patent. This will provide significant opportunities to global generics companies like Ranbaxy to offer word class generic drugs at comparatively lower price.”
vely lower price.” While the performance of almost all the sectors has come under scrutiny, banking is one, which has performed quite well. It had a good time during the last quarter with both credits and deposits growing steadily. Affirms Chanda Kochhar, Deputy MD, ICICI Bank, “The growth in profits has been robust on account of a rise in advances and improvement in margins.” Despite the fact that the pressure on net interest margin continued throughout the quarter, the sector emerged as the best in terms of net profit growth due to many reasons like strong treasury gains and reduced provisions. The sector’s outlook also remains positive for the coming quarter. “The trend that was observed during the quarter is expected to continue and the future outlook for the sector – especially for the banks in Tier I and Tier II cities – is very optimistic,” prophesies Manisha Porwal, Research Analyst, Arihant Capital.
Though the sector-wise results – barring a few like banking and oil & gas – are not very encouraging, analysts are still upbeat on a few sectors like pharma and metals. Commenting on Q3 performance of pharma sector, Sarabjit Kour Nagra, VP Research, Angel Broking says, “Barring Dr Reddy’s (34% fall in gross sales), the numbers are in line with industry expectations.” During the quarter under consideration, pharma companies have managed a PAT growth of 22%; and as per many analysts, this is the end of the lean phase for the industry. Affirms Ramesh Adige, Executive Director, Global Corporate Affairs & Communications, Ranbaxy, “The next three years will see a strong global generics market opportunity unfold with an estimated $60-70 billion worth of branded products expected to go off patent. This will provide significant opportunities to global generics companies like Ranbaxy to offer word class generic drugs at comparatively lower price.”
vely lower price.” While the performance of almost all the sectors has come under scrutiny, banking is one, which has performed quite well. It had a good time during the last quarter with both credits and deposits growing steadily. Affirms Chanda Kochhar, Deputy MD, ICICI Bank, “The growth in profits has been robust on account of a rise in advances and improvement in margins.” Despite the fact that the pressure on net interest margin continued throughout the quarter, the sector emerged as the best in terms of net profit growth due to many reasons like strong treasury gains and reduced provisions. The sector’s outlook also remains positive for the coming quarter. “The trend that was observed during the quarter is expected to continue and the future outlook for the sector – especially for the banks in Tier I and Tier II cities – is very optimistic,” prophesies Manisha Porwal, Research Analyst, Arihant Capital.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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