Mumbai: If BFSI is excluded, corporate Sales In Q2FY24 However, overall sales will decline by half a percentage point profits The decline led to an increase of about 30% Expenditure, According to a study of corporate performance, if banks and finance companies are included, sales have increased by 2.8%, while profit growth has remained almost unchanged at 30%.
Bank of Baroda analyzed the performance of top 3,265 companies. “While banks and service-related sectors benefited from higher loan offtake and pent-up demand, some sectors were showing signs of stress. Consumer-oriented industries like FMCG saw slower growth as rural demand continued to slow, “BoB’s corporate performance report said.
Companies that reported decline in sales but double-digit profit growth included crude oil, gas transmission, industrial gases and fuels and logistics. In comparison, companies in trading, textile, plastics, paper, chemicals, insurance and miscellaneous businesses reported a decline in sales and profits.
Banks and finance companies and companies in the media and entertainment sector reported more than 20% growth in sales and profits. Other companies that recorded double-digit growth in sales and profits were in automobiles, capital goods, construction, electricals, hospitality, infrastructure and realty.
There is a skew in the total number of banks and finance companies as they constitute 17.5% of the total sales of Rs 28.8 lakh crore. The decline in sales in the non-financial sector was led by crude oil, which saw a decline of 8.6% in sales, and chemicals, which saw a decline of 12.6%. The maximum decline of 29.3% was seen in the sales of companies in trading.
Bank of Baroda analyzed the performance of top 3,265 companies. “While banks and service-related sectors benefited from higher loan offtake and pent-up demand, some sectors were showing signs of stress. Consumer-oriented industries like FMCG saw slower growth as rural demand continued to slow, “BoB’s corporate performance report said.
Companies that reported decline in sales but double-digit profit growth included crude oil, gas transmission, industrial gases and fuels and logistics. In comparison, companies in trading, textile, plastics, paper, chemicals, insurance and miscellaneous businesses reported a decline in sales and profits.
Banks and finance companies and companies in the media and entertainment sector reported more than 20% growth in sales and profits. Other companies that recorded double-digit growth in sales and profits were in automobiles, capital goods, construction, electricals, hospitality, infrastructure and realty.
There is a skew in the total number of banks and finance companies as they constitute 17.5% of the total sales of Rs 28.8 lakh crore. The decline in sales in the non-financial sector was led by crude oil, which saw a decline of 8.6% in sales, and chemicals, which saw a decline of 12.6%. The maximum decline of 29.3% was seen in the sales of companies in trading.