Financials, autos lead Q4 earnings for India Inc in an otherwise lopsided quarter
India's financial and auto sectors drove the earnings growth for Q4, while metals and cement reported weaker-than-expected performances, dragging overall performance down. BFSI and auto posted 43% and 115% YoY earnings growth respectively, while excluding metals and oil and gas segments, companies experienced 34% and 30% YoY earnings growth. However, if the BFSI segment is excluded, profits grew just 4% for Motilal Oswal-covered companies. Five companies, SBI, Tata Motors, BPCL, Reliance Industries, and Axis Bank, contributed 96% of incremental YoY growth in earnings.