Early bird results show unlocking gains, net profit of 104 firms rises 9.8%

Cement makers and metal producers clearly show the impact of an uptick in prices of their products and a fall in costs boosting their profitability

The gains from the unlocking of the Indian economy are visible in the early bird results for the September 2020 quarter (Q2).

The combined net profit of 104 companies that have declared results so far is up 9.8 per cent year-on-year (YoY) in Q2, a sharp turnaround from the earnings contraction seen in the previous two quarters. The combined net profit of the sample companies was down 3.4 per cent during Q1FY21, while it had grown by 20.1 per cent in the September 2019 quarter.

As cities opened for businesses, it benefitted the top line of companies. The combined net