Aggregate net profit of Nifty companies grew 16 percent while net sales jumped 13 percent in the March quarter. Manufacturing companies fared well, the ones exposed to consumption and outsourcing faced demand-related challenges
Aggregate net profit of Nifty companies, excluding the financial sector, improved 7 percent year-on-year in March quarter. This compares to a nil growth in the preceding three months and a 16 percent growth in the March quarter of FY22.
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Even as earnings of Indian companies remained skewed in the three months ending March, easing global supply chain issues and inflationary pressures cooling off across the commodity basket helped companies manage their margins. However, persistent slowdown in consumer demands, especially in rural India, remain a worry as revival hinges on a good monsoon. Companies in the financial sector continued to show better performance, while those in oil & gas and metals lagged in the January to March period.