Nifty 500 companies' performance improves for second quarter in a row

Corporate net sales registered the first Y-o-Y expansion in the post-pandemic period, clocking a 0.1% and 0.5% growth in the December quarter for the Nifty 50 and Nifty 500 universe, respectively.

Aggregate raw material cost of Nifty 500 companies increased 41.5% from previous quarter but was lower when compared on Y-o-Y basis.

Salaries and wages expenses decreased drastically by 50.5% in Q3 FY21 as compared to previous quarter and increased a little by 6% on Y-o-Y basis.

Continued cost-cutting measures improved operating profits in Q3. EBITDA for the Nifty 500 increased by 17.2 % in December 2020 quarter on Y-o-Y basis.

Aggregate adjusted PAT growth for the Nifty 50 and Nifty 500 universe came in at a strong 62.8% Y-o-Y in Q3FY21.

PAT margins improved by 372 bps Y-o-Y to 9.7% in Q3 FY21, the highest in six years.

SHIVANI SHARMA, MOHSIN SHAIKH