Bright spots: India and Indonesia, shining stars in the profit constellation

India and Indonesia have emerged as the bright spots in the Asian pack during the December 2023 earnings season.

According to an analysis done by Nomura, of the 78 companies that make up the Morgan Stanley Capital International (MSCI) India Index, 35 exceeded Street estimates, 25 fell short and earnings of 18 companies met expectations.

These 78 companies account for three-quarters of the weighting in the MSCI India Index and 15.6 percent in the MSCI Asia Ex-Japan (AxJ) Index.

Nomura’s analysis shows that India’s beat-to-miss ratio is 13 percent, second only to that

First print: March 18, 2024 | 12:41 pm IST