Non-BFSI companies' net profits shrink sharply for second quarter

Banks account for most of incremental growth in India Inc earnings

Krishna Kant | Mumbai
Last Updated at February 17, 2023 00:07 IST

Non-BFSI companies' net profits shrink sharply for second quarter

Net sales growth for listed companies excluding banks, finance, insurance, and stockbroking declined to an eight-quarter low of 17.1 per cent year-on-year (YoY) in Q3FY23, down sharply from the 29.2 per cent in Q2FY23 and 28.4 per cent in the third quarter of FY22

Corporate results for October-December 2022 (Q3FY23) suggest a sharp slowdown in economic activities in non-financial services, including manufacturing.

TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.

MONTHLY

₹ 249

Select

ANNUAL

₹ 1799

Select

Best Offer

SMART ANNUAL

₹ 1499

₹ 1799

Opt for auto renewal and save Rs 300

Select

What you get on Business Standard Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Pick your 5 favourite companies, get a daily email with all news updates on them.
26 years of website archives.
Preferential invites to Business Standard events.