`Non-fin services sector PAT to grow at 14.9% in FY 10`
Mumbai: Profit-after tax (PAT) growth of the non-financial services sector is likely to see an improvement and is expected to clock around 14.9 percent in the current fiscal on account of an accelerated sales growth, an economic think-tank said in its latest report.
"We expect the PAT growth of the non-financial services sector for the year 2009-10 to be 14.9 percent," Centre for Monitoring Indian Economy (CMIE) said in its report on the state of the Indian economy.
PAT growth is expected to improve in tandem with sales growth which would average at 10.1 percent, it said.
According to CMIE, starting from 8.3 percent in the June 2009 quarter, the growth would accelerate to 20.7 percent in the December 2009 quarter.
However, the report forecast a slightly slower growth in Q4 of the current fiscal at 17.4 percent on account of the high base last year.
The PAT margin at 12.2 percent during the quarter would, however, be higher than those in the preceding three quarters, the report said.
On the sales side, the CMIE said, in June 2009 quarter, sales would grow by three percent and in September quarter by 5.9 percent.
"This growth will still be weaker than the close to 30 percent growth recorded in the first quarter of FY 09," the report said.
"Fortunes of most of the non-financial services sector such as software, hotels, shipping and aviation are closely linked to the global economic conditions," the report said.
These sectors are expected to report a pick-up in sales growth in the second half of 2009-10 following the expected revival in the global economy.
More from India
More from World
More from Sports
More from Entertaiment
- Jamaat-e-Islami chief announces Rs 100 cr reward for PM Modi's arrest
- DNA: Captain Saurabh Kalia's torture at the hands of Pakistani Army
- DNA: Govt tests Maggi noodle samples from all states
- Zee Media exclusive interview with victim of Uber molestation
- Jamaat-e-Islami chief announces Rs 1 billion reward for PM Modi's arrest
- Assam Board (seba.net.in & resultsassam.nic.in): SEBA HSLC / AHM class 10th Results 2015 to be announced today
- Was asked to call Sunanda Pushkar’s death `natural`: AIIMS doctor
- From being the ‘Dabangg’ girl to ‘Akira’ - Sonakshi Sinha’s journey so far
- China ship carrying 458 on board sinks in Yangtze River: Five dead, hundreds missing
- Maggi row: Delhi registers case against Nestle, Kerala withdraws stock from govt stores