India Inc short on sales, long on profits
Results of 138 firms show revenue growth has declined further, but net profits are up. The signal from the first batch of corporate results for the March 2013 quarter is loud and clear: Demand slowdown is getting deeper and India Inc is busy protecting – in fact, improving – its profit margins.
The revenue growth for a sample of 138 firms that have declared their results so far has declined to a three-year low of 5.7 per cent, suggesting a decline in volume after adjusting for double-digit inflation during the period.
Net profit, however, has gone up 16.5 per cent to Rs 25,105.6 crore, aided by lower growth in operating expenses (up 4.3 per cent year-on-year) and interest cost that grew 5.4 per cent last quarter. On a sequential basis, operating margins improved 100 basis points. Excluding other income and extraordinary gains, core operating margin was up 60 basis points from the December quarter level.
source: Business-Standard
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