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India Inc's top line struggled but profit rose 25% in FY24
Business Standard
|June 10, 2024
High margins drive earnings; revenue growth at 4.8% slowest in 3 years
The post-Covid pandemic boom in corporate revenues appeared to have faded away in 2023-24. Yet, companies have reported a sharp recovery in their profits in FY24, driven by high margins.
Their combined net sales, including gross interest income for lenders, rose by a modest 4.8 per cent year-on-year (Y-o-Y) in FY24. This growth rate, the slowest in the past three years, is a stark contrast to the 22.5 per cent Y-o-Y growth witnessed in FY23.
Business Standard's analysis is based on a common sample of 1,057 companies from the BSE 500, BSE Midcap and BSE Smallcap indices. It excludes the listed subsidiaries of other listed companies in the sample.
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