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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Security & Intelligence Services (SIS India) opened its debut trade at Rs 855 on the NSE, up 4.9% over its issue price of Rs 815. Since the issue clocked a subscription of 7 times, which projects the listing is in the expected lines.
In the pre-opening, SIS India stock settled at Rs 879.80, higher by 8% from its issue price. The company has raised Rs 780 crore through IPO that was opened for subscription between July 31 – August 2 with the price band for the issue at Rs 805 to Rs. 815 share apiece. The IPO consisted of fresh issue of equity shares of up to Rs 362.25 crore and an OFS of up to 51.2 lakh shares intended to be diluted by investors/promoters.
The SIS India provides security services across India and Australia in diverse platform.
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