Revenues of Indian companies may have increased by 18-20% year-on-year in the second quarter: CRISIL

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Rising commodity prices and the continued resurgence of demand for discretionary consumer products could have led Indian corporate profits to reach 820 million rupees in the second quarter of the year, up 18-20% year-on-year. I have. This is according to a survey by nearly 300 CRISIL Research companies (excluding the financial services and oil sectors, which account for 55-60% of the national stock exchange’s market capitalization).

Revenues from consumer discretionary products such as automobiles could have surged 19-21 percent year-over-year, supported by higher realizations and volumes. In a press release from CRISIL, the construction sector is estimated to have grown 22 to 25 percent year-over-year, benefiting from the low base effect of the previous fiscal year.

Overall revenue growth is driven primarily by price increases from expensive commodities. Year-over-year sales growth is near single digits across all major segments, excluding commercial vehicles. Indeed, growth momentum would have slowed compared to the 47% year-on-year increase seen in the first quarter.

Rising commodity prices and the continued resurgence of demand for discretionary consumer products could have led to an 18-20% year-on-year increase in corporate profits in India to reach 8.2 Laccrore in the second quarter of this year. This is 55-60% of the market capitalization of the National Stock Exchange.

On a sequential basis, overall revenue can increase by 8-10%.

Revenues from discretionary consumer products are expected to grow by 23-25%, following demand hit by the second wave of the Covid-19 pandemic in the first quarter.

The construction sector is estimated to have grown by a moderate 3-5 percent, as seasonal weaknesses have slowed execution and volume growth.

Automotive revenues are estimated to have increased by 27-30% quarter-on-quarter, driven by increased realization. This is expected to drive the growth of auxiliary segments such as auto parts and tires. These segments could be experiencing strong growth of 12-14% and 6-10% quarterly, respectively.

Fiber2Fashion News Desk (DS)

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Revenues of Indian companies may have increased by 18-20% year-on-year in the second quarter: CRISIL

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