Hindalco Set to Lead 1st Profit Drop Since 2010: Corporate India
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Hindalco Industries Ltd. and Bharti Airtel Ltd. are poised to lead the first decline in quarterly earnings in three years for companies on India’s benchmark stock index after the economy grew at the slowest pace in a decade.
Net incomes for 30 companies on the S&P BSE Sensex may fall 0.8 percent from a year ago in the quarter ended March 31, according to estimates compiled by Bloomberg. That would be the first decrease in profits since a 1.8 percent drop in the three months ended June 2010, the data show. Infosys Ltd. slumped the most in a decade today after the second-biggest software maker forecast annual sales will rise slower than analysts estimated.