Top 5 family-owned biz groups see a mixed Q1; net profits up 13.9%

Combined net sales of listed firms in these groups slowed to 2.2%

April-June 2023 (Q1FY24) was a mixed quarter for India’s top family-owned business groups. Three of the big five in terms of revenue reported a year-on-year (Y-o-Y) decline in combined net sales and two saw a Y-o-Y fall in net profits.
 

Combined net sales of all listed companies in the five groups were up just 2.2 per cent Y-o-Y at Rs 6.6 trillion in the quarter, down sharply from the 10.3 per cent in the March 2023 quarter (Q4FY23) and 42.8 per cent in Q1FY23. In comparison, combined net profits of the companies in the five groups were up 13.9 per