Good news on earnings

Early corporate results point to recovery

An analysis of the third quarter results (October-December 2017) of some 385 companies suggests that corporate growth has rebounded to an appreciable extent even if allowance is made for the low base created by the demonetisation of November 2016 as well as the patchy implementation of the goods and services tax. Sales have grown a commendable 12.8 per cent, while other income rose 28 per cent. Operating profits rose by 14.4 per cent and net profit adjusted for extraordinary items was up 23.6 per cent. Excluding banks and refineries from the sample, net profits (adjusted) have grown by 24.7 per