Money Maker Research
India Inc has reported a highest sales growth in year-on-year basis (y-o-y) in the June quarter even though there is pressure on profits and profitability. The trend is expected to keep on as the coming two quarters will project steady growth in business effective of the implementation of the GST, and expected higher demand in view of the festival season and a good monsoon.
A sample of 1024 companies reported the highest sales pick in five quarters of 5.6 percent y-o-y. Operating profit growth slowed to 3.5% percent after staying above 6 percent in the previous five quarters.
After counting O&G sector companies, the sample size grown to 1043 and sales pick augmented to 9.7%, whereas net profit pick was just 1.7 percent in the June quarter.
The other cost factor that has recorded an increase over the years is interest relative to EBIT (earnings Before Interest, Taxes, Depreciation & Amortization), whose ratio was at 26.5 percent, the highest since the June 2014 quarter.
Sectorally, capital goods companies, Automobile companies, Cement, Construction, Consumer goods and Textile sectors reported aggregate growth level in net profit, whereas realty sector, Pharma sector, Power, steel, Retail, Telecom sectors reported a fall in profit.
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Some companies likely post their financial results today, 31 May 2017, that include Castrol India, Bombay Potteries & Tiles and Raghav Ramming Mass among others.
Indian Hydropower generation company, NHPC Limited reported a standalone net profit at Rs 168.42 Cr, in the quarter ended March 31, 2017, as against Rs. 245.48 Cr, in the corresponding quarter of last year.
The second largest airline company, Jet Airways, has reported 95% decline in consolidated net profit at Rs. 23.00 cr, for the quarter ended March 31, 2017, on account of to higher fuel prices and lower fares. In the same quarter of Last year, the company had reported a net profit of Rs 426.00 Crore.
The leading Steel company, Steel Authority of India Ltd (SAIL India) has reported a net loss of Rs. 771.3 cr, for the Q4FY17, as against Rs 1184.64 Cr, in the corresponding quarter of the last year.
Gitanjali Gems has posted a consolidated net profit of Rs 5.14 crore for the quarter ended March 31, 2017, on higher income, versus a net loss of Rs 23.24 Cr, in the corresponding quarter of the previous year. Net income went up to Rs 5,544.64 Cr, in the Jan-March quarter of 2016-17 financial year from Rs 4,282.73 Cr, in the year-ago period.
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