 "Bank, Banking, PSBs")
An early June Business Standard report mentioned a sharp slowdown in India Inc’s earnings in FY23. The combined net profits of 823 non-BFSI (banking, financial services and insurance) companies — part of BSE 500, BSE Mid-cap and BSE Small Cap indices — dropped 8.9 per cent in the year. The report cited the normalisation of corporation margins from their abnormally high level of FY22 and FY21 as the main reason for this.
The banking sector, in contrast, has never had it this good. The combined net profits of 32 listed private and public sector banks (PSBs) are up 40.56 per
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