Mp-Based Firms Register 13% Growth In Sales: Cmie

The Madhya Pradesh-based companies have recorded a 13 per cent growth in their sales, says the first issue of the monthly review of the MP Economy brought out by the Centre for Monitoring Indian Economy.

However, on aggregate basis, these sample companies have reported losses in 2000-01 as against profits in 1999-2000.

The CMIE observation is based on the aggregate results of 54 large MP-based listed companies.

On the profit growth front, the financial performance of these firms compares poorly with the performance of all listed companies in 2000-01.

While listed companies have reported a 39 per cent growth in their profit after tax (PAT), the MP-based sample companies have reported an aggregate loss of Rs 39 crore.

In 1999-2000, these firms had reported Rs 19 crore aggregate profit and around 14 per cent rise in sales, more or less the same as reported by the listed companies.

According to the review, Ruchi Soya has recorded a 29 per cent growth in sales for the year ended March 2001.

During 1999-2000, the company