Manufacturing companies record lower sales growth of 10.6% On Year In Q3: RBI Data

Sales growth (y-o-y) of listed private non-financial companies moderated to 12.7 per cent in Q3:2022-23 from 22.6 per cent in the previous quarter, according to data released by the Reserve Bank of India (RBI) on Thursday. Manufacturing companies recorded lower sales growth (y-o-y) of 10.6 per cent in Q3:2022-23 as compared with 20.9 per cent in the previous quarter; the moderation was broad-based across the industries, except for cement. Information technology (IT) companies remained on high growth trajectory and recorded 19.4 per cent rise (y-o-y) in sales during the latest quarter. Revenue growth for non-IT services companies was supported by steady performance in trade, transport and telecommunication sectors. The Reserve Bank of India (RBI) has released data on the performance of the private corporate sector during the third quarter of 2022-23 drawn from abridged quarterly financial results of 2,779 listed non-government non-financial companies.

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