Manufacturing companies' net profit plunges 27 pct in July-Sept quarter: RBI

Comments 0
Among the major industries, sales growth was high in textiles, coke and refined petroleum products, chemicals and chemical product industries. AP Among the major industries, sales growth was high in textiles, coke and refined petroleum products, chemicals and chemical product industries. AP
SummaryAccording to data, net profit of manufacturing companies fell by 27.4 pct compared to 5 pct in first.

sectors, was down by 20.5 per cent at Rs 38,200 crore in the second quarter. Profits had fallen by a lower 10.9 per cent to Rs 37,600 crore in the first quarter.

However, the overall sales grew by 7.4 per cent at 7.43 lakh crore during July-Sep versus just a 2.6 per cent rise in the previous quarter at Rs 7.26 lakh crore, RBI said.

In its data based on performance of 2,708 non-financial private corporate businesses covering manufacturing, IT and services firms, the RBI said sales growth during the quarter improved on the back of higher sales by bigger companies with annualised sales of over Rs 100 crore.

During the first quarter, as many as 2,768 companies were covered for data compilation.

Single Page Format
Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...