Economy Reports News Details

Sales of listed private non-financial companies rise by 4.4% on year in Q4FY24

(01-Dec-23   11:42)

The Reserve Bank of India has released data on sales growth (y-o-y) of listed private non-financial companies increased to 4.4 per cent in Q2:2023-24 from 2.1 per cent in the previous quarter (22.6 per cent a year ago). On a sequential (q-o-q) basis, sales increased by 3.7 per cent. Aggregate sales of 1,703 listed private manufacturing companies picked-up to 4.2 per cent (y-o-y) during Q2:2023-24 (0.1 per cent in Q1:2023-24), supported by higher sales growth in automobiles, cement, electrical machinery and pharmaceuticals industries.

After recording double digit growth in the previous nine consecutive quarters, sales of the information technology (IT) sector moderated to 5.9 per cent in Q2:2023-24. Non-IT services companies also recorded lower sales growth of 1.9 per cent (y-o-y) as compared with 4.5 per cent growth during the previous quarter; lower sales of the trading companies offsetted by the higher revenue of other major non-IT services companies. During Q2:2023-24, manufacturing companies’ expenses rose by 4.0 per cent on a sequential (q-o-q) basis and by 1.6 per cent on an annual (y-o-y) basis.

Staff cost rose by 11.4 per cent and 15.8 per cent, on y-o-y basis, for manufacturing and non-IT services companies, respectively, while it moderated significantly to 7.7 per cent for IT companies (13.0 per cent in the previous quarter); the staff cost to sales ratio stood at 5.5 per cent, 50.1 per cent, and 10.8 per cent for manufacturing, IT and non-IT services companies, respectively, during Q2:2023-24. Operating profit rose by 30.1 per cent, 5.2 per cent and 22.7 per cent (y-o-y) for manufacturing, IT and non-IT services companies, respectively, in Q2:2023-24; their operating profit margin stood at 14.5 per cent, 22.4 per cent and 21.5 per cent, respectively,

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