Sales of pvt non-financial cos up 9.2% in Oct-Dec FY'13
Mumbai: Sales of private non-financial firms in the third quarter of 2012-13 grew 9.2 percent to Rs 7.45 lakh crore -- the lowest year-on-year expansion rate in the post crisis period -- hit mainly by manufacturing and IT sectors, RBI said Wednesday.
However, the net profit of these companies was up 23 percent at Rs 42,700 crore in Q3, over the year-ago period.
RBI said the year-on-year growth rates of EBITDA and net profits remained positive for the second consecutive quarter, although operating profit was lower than the previous quarter.
In Q2, EBITDA (earnings before interest, taxes, depreciation and amortisation) growth was 10.8 percent. In Q3, it was 7.5 percent.
The Reserve Bank data represents the performance of 2,745 of non-financial, non-government listed companies.
"Sales growth (year-on-year) continued to decelerate and reached the lowest level in the post-crisis period," RBI said.
In Q3 of 2011-12 fiscal, sales growth (of 2,637 firms) was up 19.2 percent at Rs 6.73 lakh crore.
Slide in sales growth was spread across manufacturing and IT sectors. IT sector witnessed larger decline in sales growth which was broad-based across the companies, RBI said.
IT companies showed sales growth of 7.9 percent at Rs 51,800 crore in Q3, FY13, while net profits were up 2.3 percent at Rs 8,800 crore. In the year-ago period, IT sales growth was 22.4 percent at Rs 49,700 crore.
Sales growth of manufacturing firms during the October- December period of 2012-13 was up 9.9 percent year-on-year at Rs 5.60 lakh crore, while their net profit increased by 50.6 percent to Rs 28,400 crore. In Q3, 2011-12, sales of the sector were up 19.7 percent at Rs 4.97 lakh crore.
Sales of non-IT service companies stood at Rs 71,300 crore, up 14.4 percent in Q3, 2012-13. Their profits rose by 5.9 percent to Rs 3,200 crore.
Sales of companies (above Rs 1,000 crore) decelerated and contracted for all other sales-size groups, it said.
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