Sales of manufacturing companies grow 27.3% in December quarter: RBI data
According to RBI data issued on Monday, aggregate sales of 1,701 listed manufacturing businesses increased by 27.3% on an annual basis in the third quarter of 2021-22, supported by strong sales growth in the petroleum, non-ferrous metals, iron and steel, chemicals, and textiles industries. Manufacturing companies sold Rs 8,87,137 crore (US$ 117.00 billion) in the third quarter, up from Rs 6,79,462 crore (US$ 89.61 billion) in the previous quarter (1,685 companies). During the October-December period of 2021-22, their net profits were Rs 88,167 crore (US$ 11.62 billion), up from Rs 73,789 crore (US$ 9.73 billion) the previous quarter.
Information technology businesses maintained their sales growth momentum in the third quarter of 2021-22, with a year-over-year gain of 20.7%. Furthermore, in the October-December period of 2021-22, sales of non-IT services companies increased by 22% year over year.
"Sales of listed private non-financial companies increased (y-o-y) by 25.3% in the third quarter of 2021-22 as compared with 31.8% in the previous quarter and 4% in the corresponding quarter a year ago," the RBI said.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.