The aggregate net profit and revenue of these companies grew 32% and 7.88% from a year earlier, with profit growing at the fastest pace in eight quarters. Earnings are panning out mostly on expected lines with excellent performance from banks and weak guidance from the information technology (IT) sector, said V.K. Vijayakumar, chief investment strategist at Geojit Financial Services.
"Banks have reported very good results, with the best-in-class performance by ICICI Bank," said Vijayakumar. The trend of declining non-performing assets (NPAs), decreasing provisions, and rising profit continues, he said.
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