The June 2020 quarter recurring earnings followed suit of previous quarters by declining 58.0% Year-over-Year (YoY) for 267 companies, First Capital Research said. On a recurring basis, June 2020 quarter earnings dipped by 58.0% YoY to Rs. 17.7 billion, primarily owing to sluggish performance in diversified financials (-97% YoY), capital goods (-471% YoY), consumer services (-108% YoY), and real estate (-84% YoY) sector earnings. However, negative performance of the above-mentioned sectors was negated by the earnings growth in transportation (+1043% YoY) and materials (+60% YoY) sectors. Consumer services sector earnings dipped primarily led by significant losses in two key players, John Keells Hotels (KHL) amounting to Rs.

Source: The Nation November 15, 2020 20:04 UTC