Corporate earnings in the December 2021 quarter (Q3FY22) have started on a muted note for India Inc with lower than expected growth shown by early-bird companies. The combined net profit of 140 early-bird companies is up 10.4 per cent year-on-year (y-o-y) during October-December 2021, growing at its slowest pace in the last five quarters.
For comparison, these companies’ earnings were up 19.7 per cent y-o-y in Q2FY22 and 21.6 per cent during the third quarter of FY21. Early-bird companies reported net profits of around Rs 43,500 crore in Q3FY22, up from Rs 40,565 crore in Q2FY22.
On the top line side, their combined net sales (gross interest income in the case of banks and other lenders) were up 16.5 per cent year-on-year