 "Mining & metal firms")
There has been a sharp reversal in the fortune of mining and metal companies in the July-September 2022 (Q2FY23) quarter. The combined net profits (adjusted for exceptional gains and losses) of listed mining and metal companies were down 91.4 per cent year-on-year (Y-o-Y) to Rs 2,139.3 crore in Q2FY23 from Rs 24,738 crore a year ago.
As a result, those companies have become the biggest laggards in terms of corporate earnings in Q2FY23 from being the highest contributor in FY22.
For comparison, companies such as Tata Steel, JSW Steel, Vedanta, Hindalco, and Coal India were the most profitable in the
