Early results show companies turning around

Financial statements for the quarter ended March 2021 were available for 135 companies as of April 29. But they account for 15.4 per cent of total sales. This small set of companies provides strong indications of the direction in which the total results would culminate .

• Story: Shivani Sharma
• Design: Pragati Srivastava

Total income of these 135 companies collectively grew by 10.4 per cent. Core business grew better as net sales grew 13.2 per cent while other income and extraordinary income declined by 15 per cent.

The manufacturing sector seems to be headed towards a tentative recovery in its topline even as it continues to retain profits growth. In March 2021 quarter, its total income grew by 27.5 per cent.

Among non-finance companies, non-financial services seem to be headed towards delivering an average performance. Their total income grew by 8.5 per cent and net sales grew by 11.5 per cent.

In March 2021 quarter, financial sector companies recorded a negligible 1.7 per cent increase in total income while non-finance companies recorded a growth of 16 per cent.

Consumer goods companies recorded an income growth of 36.5 per cent in March 2021 quarter.