Profit squeeze clouds strong June-quarter revenue growth for India Inc
New Delhi, July 28 -- The June quarter is expected to offer the first full measure of how the West Asia conflict has affected corporate India. Elevated crude oil prices had sparked concerns over rising input costs, margins pressures and yet another disappointing earnings season. However, early results indicate India Inc.'s revenue growth has remained surprisingly resilient, even as profit growth continues to trail.
A Mint analysis of 393 companies that have announced standalone results for the April-June quarter so far shows aggregate total income rose 18% year-on-year, the fastest pace in at least three years. But expenditure climbed an even steeper 26.5%, leaving profit broadly unchanged from a year earlier.
The numbers suggest compan...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.