India Inc seems to be on a roll. For the nine months ended December 31, 2002, the net profit of 1,800 companies is nearly equal to their full-year bottom line of 2001-02.
And a few companies have outperformed not only their peers, but they have beaten their own records. For 160 companies, net profit in the first three quarters is higher than their yearly net profit in the last five years. And some of them may have logged their highest-ever profit in history.
The above 160 companies achieved a net profit growth rate of 75.52 per cent during the nine months ended December 2002.
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In contrast, the net profit growth of the entire corporate sector was at 49.94 per cent. The nine-month net profit of these firms are at 125 per cent of the net profit in 2001-02.
The aggregate sales of these 160 firms rose by 10.59 per cent, higher than the growth rate of a 10.45 per cent achieved by the entire corporate sector.
These 160 firms accounted for a 33.42 per cent share in the sales of 1,800 companies, but their share in net profit has been 55.33 per cent.
In other words, they are the major driving factor for corporate performance in the first nine months of the current fiscal.
Out of the sample of 160 firms, as many as 33 turned around by aggregating a net profit of Rs 261.35 crore compared with a collective net loss of Rs 269.16 crore for the corresponding period of the pervious year.
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