Shiv Kapoor's  Instablog

The second quarter earnings for all Sensex companies are in. On an as reported stand-alone basis, total earnings have come in at Rs 928.44; adjusting it to include only that part of earnings attributed to the free float gives a number of 543.53.

Calculating earnings per share on a normalized EPS basis (excluding prior period, non recurring and exceptional items) gives first half earnings of Rs 885.59; adjusting it to include only that part of earnings attributed to the free floating shares, gives normalized earnings per share of Rs 514.77.

The above numbers are stand alone. Fairly significant damage to normalized earnings can be expected from consolidated results from various Sensex entities. Several entities have reported quarterly consolidated reports; these include ACC, Airtel, DLF, Grasim, ICICI Bank, Infosys, Reliance Communication, SBI, Sterlite, Sun Pharma & TCS. For these companies, the consolidated results add Rs 45 to stand alone normalized earnings per share.