For the April-June quarter, its net profit dropped 24.5% year-on-year, below analysts’ estimates.
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No matter how good a business, overpaying for a stock negatively impacts returns. Saurabh Mukherjea’s Marcellus is only the latest example of the perils of forgetting this timeless lesson.
The Ajay Singh-led airline may have claimed it has turned profitable, or has a positive net worth for the first time in a decade, but a closer look suggests otherwise.
A gung-ho attitude to the market hinges on rate cut expectations, but the risk of tapering earnings growth spoiling the party is a very real prospect.