The base effect

Corporate performance remains uncertain

Corporate results for April-June 2021-22 have been buoyed by the low base effect of the corresponding period of the previous year. There are also incipient signs of revival and the global bull run in industrial metals has provided an impetus. But the credit offtake has stagnated, and consumption is flat. A sample of 894 listed companies have registered a year-on-year rise of 38 per cent in net sales at Rs 17 trillion. There is a 23.6 per cent rise in operating profits (PBDIT) at Rs 5.04 trillion, with profit after tax (PAT) up by 166.5 per cent at Rs 1.53