9 Aug 2017

Q1FY18's on their way

We saw a slew of Q1FY18 results among portfolio stocks. Several companies reported weak sales following the widespread de-stocking seen in the run-up to the introduction of GST on July 1st. TV18 reported sales ahead by 4% with an improvement of nearly 10% in its quarterly loss in spite of reduced advertising income. Bajaj Auto reported sales and profits both down by 5.6% as dealer de-stocking added to a slowdown due to the adoption of higher emission standards. Supreme Industries reported sales down by 7.9% and profits down by 25.9% as raw material prices squeezed margins.

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