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Thursday, February 13, 2025 | 08:35 PM ISTEN Hindi

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FY24 earnings makeover: IndianOil to MRF, companies rewrite profit playbook

Q2 of 2023-24 saw a profit metamorphosis as standout firms marked the biggest earnings upgrades

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Illustration: Binay Sinha

Krishna KantRam Prasad Sahu
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers.
 
By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.

FMCG and consumer durables companies also

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