India Inc has emerged leaner from its big crisis
Premium
Share Via
Read Full Story
Black ink is in corporate demand. A Mint assessment of nearly 2,500 listed companies has revealed that their net profit in the third quarter of 2020-21 expanded by 72%, year-on-year. This is the fastest pace in at least 25 quarters and about twice the pep of the preceding quarter ended 30 September. The review left out some sectors like hydrocarbons and financial services, as they follow a different revenue model, but its findings offer us a fairly representative view of how our relatively large businesses have fared as they emerged from the covid lockdown of this fiscal year’s first quarter. Both sales and profits had crashed during those three grim months. The added-up bottom line figures of our sample bounced back in the ‘unlock’ quarter thereafter, even as their topline stayed flat. The latest quarter’s results make for a mix of jubilation and relief. Not only is the profit curve sharpl