Significant pressure on companies' profits and sales in the June quarter

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MUMBAI: The improvement in the balance sheets of the country's companies after the first wave of Corona has subsided is now slowing down, according to an analysis of companies' results for the first quarter of the current financial year.

Compared to the first quarter of the last financial year, the results of the companies in this period of the current financial year may have been good, but compared to the March quarter, the results of the June quarter are weak.

According to a research conducted by a research firm of six of the companies listed on the country's stock exchanges, the net sales of these companies increased by 3% year-on-year in the June quarter but declined by 2.50% on a quarterly basis.

The companies' net profit has quadrupled on an annual basis, while it has declined by 12.50 per cent on a quarterly basis.

In the first quarter of last financial year, the combined net profit of the six companies under analysis stood at Rs 30 crore as against Rs 1.50 trillion in the first quarter of the current financial year. However, the figure is 19.60 per cent lower than Rs 2.15 trillion in the March 2021 quarter.

Net sales, which stood at Rs 16.10 trillion in the first quarter of last financial year, stood at Rs 31.50 trillion in the same period of the current financial year. However, in the March 2018 quarter, the figure was Rs 2.50 trillion.

After the first wave of Corona subsided, the revenue of companies in the bicycle sector increased significantly.

The first wave of Corona ebbed after the previous demand, which declined after completion, but the second wave in April-May also affected the operations of the companies, the analyst said.

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