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Revenue and profit growth rebounded across industries in the June 2018 quarter, thanks to the favourable base-effect and an uptick in consumer demand from a low base last financial year. Consumer demand had taken a beating in the first half of 2017 calendar year due to the twin effects of demonetisation and de-stocking prior to the roll-out of the goods and services tax, beginning July 1, 2017.
Private consumption-related sectors have done well during the quarter but discretionary spending (automobiles and consumer durable) had done better than non-discretionary spending such as personal care and packaged food products.
For example, the combined net sales of personal care, food and tobacco companies were up 10.6 per cent year-on-year (y-o-y) during the quarter, compared to 20 per cent y-o-y growth reported by consumer durable makers and 27.2 per cent y-o-y growth in the top line of automobile makers. This excludes Tata Motors, which gets bulk of its revenue from its Jaguar Land Rover subsidiary.
Private consumption-related sectors have done well during the quarter but discretionary spending (automobiles and consumer durable) had done better than non-discretionary spending such as personal care and packaged food products.
For example, the combined net sales of personal care, food and tobacco companies were up 10.6 per cent year-on-year (y-o-y) during the quarter, compared to 20 per cent y-o-y growth reported by consumer durable makers and 27.2 per cent y-o-y growth in the top line of automobile makers. This excludes Tata Motors, which gets bulk of its revenue from its Jaguar Land Rover subsidiary.
