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Early-bird results signal a worrying Dec quarter
Hindustan Times Navi Mumbai
|January 23, 2025
A worrying trend is emerging for India Inc. as the third-quarter results trickle in.
MUMBAI: Initial earnings suggest demand worsened in the three months through December, suggesting consumers further cut back on spending after a tepid second quarter.
A Mint analysis of the first 200 companies that have declared their results shows a 1.5% year-on-year drop in their topline. That contrasts with the 9% annual revenue growth these companies reported in the September quarter. Sequentially, revenue contracted nearly 7%.
Consumption had slowed in the second quarter ended September due to minimal government spending, sticky inflation and sluggish wage growth—reflected in India's GDP expansion cooling to a seven-quarter low of 5.4% in Q2. Investors hoped for a rebound during the festive and wedding season, but early numbers portend little relief ahead.
This story is from the January 23, 2025 edition of Hindustan Times Navi Mumbai.
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