Expect moderate returns this year as macro headwinds mount: SBI Pension Fund CIO

Given these macro headwinds, how are corporate earnings holding up so far, and what is the outlook for the rest of the financial year? Companies have already been dealing with cost pressures from the war. So far, they have managed the situation through existing inventory and passing on some of the higher costs. This pressure is highly visible in the growing wedge between wholesale price inflation (WPI) and consumer price inflation (CPI). However, if geopolitical tensions persist, there could be some downside risk to earnings ahead. For the June quarter, the consensus expectation points to high single-digit earnings-per-share (EPS) growth…