New Delhi. The Indian economy, which was severely affected during the Corona period, is now on the mend. This is a testimony to the fact that Indian companies have been making impressive profits for the second consecutive quarter. Results for most companies in the December quarter were better than anticipated. The management of the companies has also seen good growth in profits. Analysis of sample results of 3,807 companies showed that their profit grew 68.7 percent year-on-year in the December quarter. This is the highest increase in profits in the last 9 quarters. Best results in a decade: Experts believe the third quarter results are the best in a decade. Measures to control spending and demand for festive seasons have helped companies perform better.
Improved balance sheet
Along with good growth in sales and profits, many companies, burdened with debt, used better cash flow to improve their balance sheets. Ultratech, JSPL, Hindalco and Tata Steel have consistently tried to reduce their debt during the period from April to December last year. During this period, companies directly connected with the consumer performed well.
– December quarter profit up by 68.7 percent.
– 9 previous quarters saw the largest increase.
– 18.6 percent share in revenue of companies.
– 13.5 percent share in profit of companies.
– Experts report the results of companies in a decade is the best.