India Inc likely to see a modest Q2

Holdback on spending for GST cut, heavy rains to dampen earnings

- KISHOR KADAM

INDIA INC IS expected to turn in a modest performance for the September quarter with net profits for the Nifty 50 estimated to rise by about 6-7% year-on-year, analysts say. With the demand environment subdued for most of the quarter and spends being held back until September 22, consumer-oriented companies are tipped to report ordinary results. Also, the very heavy and long monsoon is believed to have impacted sales of products like paints as also business at fast food joints. The sharp depreciation in the rupee during the quarter, of over 3%, wo