FE Editorial : Not yet bottomed out

Jan 26 2013, 01:11 IST
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SummaryEarnings season may have gotten off to a good start with heavyweights like TCS, ITC and RIL all turning in strong numbers, but some of that sheen is wearing off.

were from overseas markets. So, while the growth in the bottom line may seem quite spectacular, much of it has come from lower costs rather than higher sales. In short, the worst may not be over for Indias corporate sectorexcept perhaps in spaces like IT. Some managementsBajaj Auto, for instancehave cautioned that it could be a while before the home market sees a picks up. Also, the profit warning from Tata Motors for its JLR subsidiary is a sign that the global economy too needs to look up before India Inc can call a recovery.

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