India Inc likely to report double-digit profit growth for 3rd quarter in a row


India Inc likely to report double-digit profit growth for 3rd quarter in a row

A lower base in the previous year’s quarter and likely good show by select companies in sectors such as automobiles, capital goods, FMCG, IT, and metals should help the Nifty 50 companies report a double-digit growth in aggregate sales and profits for the June 2018 quarter.

According to the ET Intelligence Group’s estimates, net sales is likely to increase by 12.1 per cent and net profit by 13.5 per cent year-on-year. Sales and profit will grow in double- digits for the fifth and third consecutive quarters, respectively.

The corporate performance in the June 2018 quarter will get a leg up given relatively muted performance in the year-ago quarter. This was because of lower inventories of companies in the June 2017 quarter ahead of the implementation of the Goods and Services Tax (GST) on July 1, 2017. Read More

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