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The net profit in the corresponding period of the previous fiscal was at Rs 650 crore. |
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According to IDBI, the increase in profit can be attributed to the turnaround of steel companies and better working results of automobile, cement, textiles (other than cotton textiles and artificial fibres), chemicals (other than basic chemicals) and electricity generation sectors. |
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The sample covered companies in manufacturing and service industries. |
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Indian corporates saved on interest expenses by taking advantage of the declining interest rate regime during the period under review. Interest expenses for these companies declined by 14.8 per cent in the first quarter. |
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Interest expenses as a percentage of net sales came down to 5.8 per cent from 7.5 per cent in the previous year. |
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Net sales of these firms grew by 10.9 per cent to Rs 56,268 crore (Rs 50,748 crore), while other income jumped by 43.8 per cent to Rs 1,009 crore. |
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The aggregate cost of production rose by 11 per cent to Rs 48,019 (Rs 43,248 crore). The gross margin for these companies looked up to 17.2 per cent (16.5 per cent). |
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Of the 28 industry groups, 16 recorded higher gross margins with the highest jump recorded by iron and steel, followed by textiles (other than cotton textiles and artificial fibres), cement, sugar, chemicals (other than basic chemicals), plastic and plastic goods and paper and paper products. |
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The net margin of these companies increased to 3.7 per cent in the first quarter from 1.3 per cent in the corresponding period of the previous fiscal. |
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The net margin improved in respect of 18 industry groups, which include cement, electricity generation, automobiles, textiles (other than cotton textiles and artificial fibres), chemicals (other than basic chemicals), iron and steel, ceramic and refractories, etc. |
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