India’s corporate sector is enjoying a dramatic turnaround. The Reserve Bank of India’s (RBI’s) studies of corporate finances show that, for a shifting sample of 2,600+ listed private companies, excluding financial enterprises, net profits in the first half of this financial year are already about 80 per cent of the profits earned during all of last year. Even if the profit growth rate falters in the second half of the year, the RBI sample’s profits for all of 2021-22 could end up showing growth in the region of 60 per cent. This comes on top of a more than doubling of profits in 2020-21, but that was mostly a recovery from a sharp dip the previous year.
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First Published: Fri, January 14 2022. 19:31 IST