India Inc Q2 profit at 15-yr low on record telco losses, net sales dip 0.8%

Combined earnings plunge 68% YoY to Rs 36,500 crore

India’s listed companies, excluding financials and oil and gas, reported a combined net loss for the first time in at least 15 years, while their net sales contracted for the first time in four years in the July-September quarter (second quarter, or Q2). 

While the bottom line slipped into the red due to record losses posted by mobile operators during the quarter, the decline in sales is attributed to demand contraction in the domestic economy. This, analysts say, also clouds the earnings outlook for the forthcoming quarters.

Listed companies, excluding financials and oil and gas (whose earnings are volatile), reported a combined