Don't expect much from corporate earnings: Nirmal Jain, Chairman, IIFL

In a chat with ET Now, Nirmal Jain, Chairman, IIFL, shares his views on the corporate earnings of major companies. Excerpts:

ET Now: Regarding your expectations from the upcoming earning season, will we see a bottom on corporate earnings?

Nirmal Jain: One should not expect much from corporate earnings. Other than that, many companies have been reeling under tremendous pressure of high interest cost, delayed projects, high raw material prices and slowing demand. Thus, one should be cautious about the corporate earnings.

It will take couple of quarters more for corporate earnings to bottom out and come back to their normal levels. In telecom sector, the revenue per user has been moving up. Hence, that sector is doing well. Other than that, the large core sectors will still be under tremendous pressure.