The sector-wise performance of the quarterly results shows that textiles (cotton and manmade fibre), automobiles (heavy commercial vehicles), and solvent extraction firms have registered a sharp turnaround during the quarter ended June 2002.
And sectors such as consumer electronics, capital goods, chemicals, petrochemicals, pharmaceuticals, pesticides and tyres have also done extremely well by registering hefty growth in net profit.
But fertilisers, steel, electrical equipment, dyes & chemicals, electrical equipment-general, sponge iron, white goods, power cables, tractors and paper have reported net losses during the quarter ended June 2002.
The rise in the prices of steel products during the April-June 2002 quarter helped steel companies to grow on the volume front, but the gains were not enough stop these companies from sinking further into the red.
Composite steel manufacturers were the worst hit with nine companies aggregating a net loss of Rs 462.5 crore despite a 26.66 per cent rise in sales income.
The 12 firms in the steel sector producing hot-rolled/ cold-rolled/ GP/ CG products recorded a net loss of Rs 145.26 crore despite a healthy 37.14 per cent rise in sales income.
Ten sponge iron firms aggregated a net loss of Rs 43.7 crore on 11.8 per cent rise in sales, while nine ferro alloys companies reported a net loss of Rs 34.19 crore on a 13.1 per cent decline in sales income.
The sectoral trend reveals that as many as 58 sectors outperformed the industry average sales growth of over seven per cent.
At the top of the heap were 19 food processing companies with aggregate sales growth of 49.45 per cent.
Three mining companies aggregated 41.5 per cent rise in sales, while 17 civil and turnkey construction companies recorded sales growth of 33.86 per cent.
The shipping sector was hit by recession with 12 companies posting a 31.32 per cent drop in revenues during the April-June 02 quarter.
As many as 20 power and telephone cable companies reported a 28 per cent decline in sales.
Textile machinery, ferro alloys, entertainment, telecommunications, engineering, hotels and engines manufacturing firms have all registered negative growth in sales income. On the net profit front, as many as 37 sectors reported a net profit growth of over 10 per cent, while the bottom line of 21 sectors was down more than ten per cent. 37 sectors were in the red.
The top performing sectors by net profit were food processing (net profit up by 2118 per cent), abrasives and grinding wheels (+564 per cent), pesticides (up 154 per cent), alkalies (up 126 per cent) and pumps and compressors (up 125 per cent).
