Sales of listed non-finance private companies increased by 41 per cent in the quarter ending June 2022 to Rs 14.11 lakh crore, according to Reserve Bank data released on Thursday. The Reserve Bank released data on the performance of the private corporate sector during the first quarter of 2022-23 drawn from abridged quarterly financial results of 2,749 listed non-government non-financial companies. "Driven by broad based demand expansion across industries, the manufacturing sector recorded impressive sales growth of 41.6 per cent (y-o-y) in Q1:2022-23, which was aided by both volume and price effects," it said. As per the central bank's analysis, annual sales growth of information technology (IT) companies, which remained steady in positive terrain even during the COVID-19 pandemic, stood at 21.3 per cent during the April-June quarter of the current financial year. Further, sales of non-IT services companies swelled by 62.1 per cent (y-o-y) in the first quarter 2022-23, as the service activities continued their ascend on strong revival path after the second wave of the pandemic a year ago; hotels and restaurant, transport, trade and real estate sectors bounced back sharply.
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