Subpar performance: Q4 revenue improves, profit under pressure

Double-digit sales growth, operating margin at 16-quarter lows

India Inc revenues grew in double digits for the second consecutive quarter in the January-March 2018 period (Q4FY18) though net profit disappointed.

Sales growth for companies, excluding financials and energy, was at 10.3 per cent, marginally lower than the 11.4 per cent year-on-year (YoY) growth reported in the December 2017 quarter, and was the third highest in 16 quarters. 

However, India Inc failed to impress on the earnings front. The combined net profit (adjusted for exceptional gains and losses) of companies, ex-financials and energy, was down 14.4 per cent YoY during the quarter, their worst showing in the last four