Corporate India had an extraordinary 2018-19, but their real wage rate fell

In last 6 years, wages have grown at an average 10% a year within a narrow range of 9-12% per year. During this period, sales have grown at an average annual rate of 6% in wider range from -3% to +17%

The Indian corporate sector scaled some handsome growth rates in 2018-19. Preliminary results based on a sample of 7,739 companies for which the annual report and complete audited financial statements were available for the year show that sales grew by 16.4 per cent and profits grew at more than twice that rate. This is the best performance by the corporate sector in several years.
 
Results of listed companies (a little over five thousand) show that sales grew by 17 per cent in 2018-19. This was the highest growth rate since 2011-12. Net profit grew by 42 per cent, which