India Inc reported an uptick in revenue growth in the January-March quarter (Q4) of 2023-24 (FY24), but it came at the cost of a deceleration in earnings growth. The numbers also show a skew in the sectoral contribution of revenue and profit growth during the quarter. Most of the gains in net sales and net profit came from banking, financial services, and insurance (BFSI) companies, and automakers.
The combined net sales (gross interest income in the case of banks and other lenders) of 631 listed companies in the Business Standard sample were up 10.1 per cent year-on-year (Y-o-Y) in Q4FY24, up from 9.4 per cent growth in Q3 and the highest in the past four quarters. However, the combined net profit (adjusted for exceptional gains & losses) of these companies was up 13.4 per cent Y-o-Y in the fourth quarter, down from 24.2 per cent Y-o-Y growth in Q3 and growing at the slowest pace in the past six quarters.
Non-financial companies did worse, and the combined adjusted net profit of ex-BFSI companies was up 7.5 per cent Y-o-Y in Q4, down sharply from 33.5 per cent Y-o-Y growth reported in Q3 and their worst show in the past five quarters.
هذه القصة مأخوذة من طبعة May 14, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة May 14, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Delay in gratuity payment? You are entitled to interest
The Allahabad High Court recently ruled that gratuity for government employees is based on years of service, not retirement age.
Campus Activewear puts best foot forward
Stock gains over 18% on improved Q4 margin showing RAM PRASAD SAHU Mumbai, 29 May he stock of footwear major Campus Activewear surged ☐ 18.6 per cent on Wednesday to touch ₹296.7, logging the biggest gain in the BSE 500 index.
Election jitters, rate uncertainty trigger mkt tailspin for 4th day
Indian equity benchmarks declined for the fourth consecutive session on Wednesday amid heavy foreign portfolio investor (FPI) selling, concerns about the election outcome, and the outlook for rate hikes in the US.
BJP LS poll tally below 272 seats could be market's perfect storm
However, the most likely outcome is BJP crossing 300 seats, predict brokerages
After encouraging Q4, outlook positive for LIC
India's largest life insurer, Life Insurance Corporation of India (LIC) reported encouraging performance in the January-March quarter (Q4) of FY24.
Update in SOPs: Some FPIs may not be exempt from disclosures
Certain foreign portfolio investors (FPIs), which operate as pooled investment vehicles (PIVS), may not be exempt from the additional disclosure mandates by the Securities and Exchange Board of India (Sebi) following an update in the standard operating procedures (SOPs) for custodians.
Sebi ups guard against fraudulent messages, apps
WhatsApp groups from Hong Kong, Cambodia operated investment scams
Paid break for labourers in Delhi; Bihar orders closure of schools
Extreme heatwave continued to grip large parts of northern and central India on Wednesday with Delhi's Mungeshpur crossing 52 degrees' Celsius mark, highest-ever for the city.
Decide on cashless claims in 1 hr: Irdai to health insurers
Health policy-holders can now avail premium discount in case of no claims in previous year
Catharsis against western media
The idea that people cannot represent themselves but need representation is at the root of colonising the \"other\".
