Q3FY24 results: India Inc profit growth slowest in the last 14 quarters

Sample of early-bird companies shows worst net sales since Q3FY21

The early-bird results for the October-December 2023 quarter (Q3FY24) hint at a slowdown in corporate profit growth and a further deceleration in India Inc’s revenue growth.

The combined net profit of 215 early-bird companies that have declared their quarterly results so far is up 12.5 per cent year-on-year (Y-o-Y) in Q3FY24, growing at the slowest pace in the last 14 quarters.

These companies’ net sales (gross interest income for banks and non-banking finance companies) were up 9.4 per cent Y-o-Y in the third quarter, their worst show since the December 2020 quarter when net sales were down 3.5 per cent