Companies' profits hit all-time high in September quarter

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Mumbai, Ta. 22 December 2020, Tuesday

Corporate profits rose 17 per cent to an all-time high in the September quarter on rising margins due to lower raw material prices and increased capacity utilization.

Interest. Earnings before tax, depreciation and amortization (EBDITA) reached an all-time high of Rs 1.50 lakh crore in the September quarter, up from Rs 1.04 lakh crore in the June quarter, a rating agency said in a report.

On the one hand, the country's economic growth rate is turning negative, while on the other hand, the sharp rise in corporate revenue is a matter of concern as it provides an additional example of inequality, said one expert.

The analysis was conducted by a rating agency of 200 listed companies, excluding banking and finance and oil and gas companies, which account for 5 per cent of NSE's total market cap. The report noted a sharp rise in profits due to increased capacity utilization by large companies, better management of electricity, fuel and raw material costs.

The September quarter saw an average increase in operating margins of companies by more than 1 per cent. Employee back costs have also seen a decline. Although revenue has not increased, profits have increased. The June quarter saw a 4 per cent decline in revenue, while the September quarter saw a stabilization.

Smaller companies have had to bear the brunt of the decline in revenue compared to larger companies.

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