A sharp turnaround

India Inc remains cautious after a robust Q4 performance

The results of 1,757 listed companies that have declared their results for the fourth quarter of 2020-21 indicate a sharp increase in business activity. Revenues from operations rose 17 per cent, year-on-year, to Rs 26.04 trillion. Profits after tax (PAT) rose a whopping 523 per cent to Rs 2.38 trillion. Operating profits — or PBDIT (profits before tax, depreciation, and interest) — rose 64 per cent to Rs 7 trillion. The interest pay-out dropped 6 per cent, depreciation rose 7.4 per cent, and employee costs increased 9.5 per cent. The resurgence was across many sectors. The global commodity cycle was