Corporate earnings in the December 2021 quarter (Q3FY22) have started on a muted note for India Inc with lower than expected growth shown by early-bird companies.
The combined net profit of 140 early-bird companies is up 10.4 per cent year-on-year (y-o-y) during October-December 2021, growing at its slowest pace in the last five quarters.
For comparison, these companies' earnings were up 19.7 per cent y-o-y in Q2FY22 and 21.6 per cent during the third quarter of FY21.
Early-bird companies reported net profits of around 143,500 crore in Q3FY22, up from 40,565 crore in Q2FY22.
On the top line side, their combined net sales (gross interest income in the case of banks and other lenders) were up 16.5 per cent year-on-year in Q3FY22, growing at the slowest pace in the last three quarters and down from 25 per cent y0-y growth in the second quarter of the current financial year.
This story is from the January 21, 2022 edition of Business Standard.
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This story is from the January 21, 2022 edition of Business Standard.
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