Corporate earnings slow, growth slowest in 14 quarters

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Ahmedabad: From the business results so far for the October-December quarter of the current financial year, it seems that the pace of growth in the profits of the companies is slowing down. Their income is also growing at a slow pace. Of the companies that have reported results so far, gross profit for 215 grew by 12.5 percent compared to the third quarter of 2022-23, the slowest pace in the last 14 quarters.

Net sales (gross interest income from banks and non-banking financial companies) of these companies were just 9.4 per cent higher than the year-ago period, the worst performance since the December 2020 quarter. Net sales fell 3.5 percent in that quarter. HDFC Bank and HDFC merged in July last year and the figures have been adjusted accordingly.

If banks, finance, insurance and stock broking companies are excluded from these companies, which declared results early, the remaining (non-BFSI) companies fared worse and their total net profit in October-December 2023 was only 7.8 in comparison. percent had increased. Their revenue has also increased by only 4.5 percent in this quarter. This is the slowest growth in revenue for non-BFSI companies since the third quarter of 2020-21.

The companies that have declared results so far have posted a total net profit of Rs. 1.02 lakh crore, while a year ago the net profit was only Rs. 91,000 crores. In the second quarter of the current financial year, their total net profit was Rs. 99,484 crores. After excluding BFSI, the total revenue of the remaining 157 companies for October-December, 2022 was Rs. 53,175 crore to Rs. 57,342 crores. In the second quarter of the same financial year, their figure was Rs. 55,175 crores. The net sales of the companies are Rs. 7.55 lakh crore, which was Rs. 6.9 lakh crore was

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