Readings: Q2 Results, Sam Zell in India, Bernanke gone wild
- Hindu Business Line: Earnings growth slows down in Sept quarter
The September quarter numbers of over 2,000 companies highlight a lower rate of growth in India Inc’s revenues as well as profits. On an average, companies recorded a 23% growth in earnings on the back of 12% growth in revenues this quarter, compared with the corresponding quarter last year.
Notably, the same quarter last year saw India Inc notch up 47% growth in profits and 32% growth in revenues. Compared with the June quarter, however, the performance appears to have improved. On a sequential basis, profits grew by about 14%, while revenues increased by 8%.
India is now one of the countries Zell is eyeing. His Equity Group Investments plans to “accelerate existing activities in China, start operations in India, where distressed investment opportunities are popping up.
More on Zell here.
“Bernanke loves printing money,” Rogers said in an interview in New York. “This man is a nut. The dollar is collapsing, commodities are going through the roof, which means inflation’s going through the roof”.
Rogers also said he’s buying currencies including the Chinese renminbi, the Swiss franc and the Japanese yen. China’s currency is “bound to double, or triple or quadruple over the next 10 or 20 years,” he said. “It’s got to be one of the best investments around right now.”
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November 4th, 2007 at 7:24 pm
More funny Jim Rogers quotes from Bob Brinker Fan Club
“Bernanke loves printing money.”
“He’s going to print money until we run out of trees.”