Sales, profits of most Indian firms declined in 2012-13: RBI

Mumbai, Sep 5 : Sales and profits of most Indian companies declined in the 2012-13 financial year, Reserve Bank of India (RBI) data released Thursday showed.

"Most of the industries followed the general trend of lower sales growth and lower profit margins in 2012-13 as compared to 2011-12," the RBI said in a statement.

Among major industries, machinery, motor vehicles and cement industries in the manufacturing sector witnessed significant decline in sales growth, it said.

Profit margin growth improved for iron and steel industry and declined sharply for the cement industry. Motor vehicles, construction and machinery industry witnessed contraction in Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) levels.

"EBITDA margins contracted for all these industries," the RBI said.

The data is based on financial results of 2,931 listed non-government non-financial companies.

All three sectors - manufacturing, services other than IT and IT - exhibited lower sales growth.

EBITDA margin declined for manufacturing and services other than IT sectors. Some improvement was noticed for the IT sector.

Interest expenses as percentage of sales increased across all sectors and size classes.

Small companies (sales up to Rs.1 billion) witnessed a persistent contraction of sales since 2008-09 and rates of contraction worsened over the years. Sales of large companies also moderated sharply in 2012-13, the report said.

--IANS (Posted on 05-09-2013)

business-india-news headlines

Anand Mahindra, Banmali Agrawala, Ellen Lord named USIBC directors

Sigvaris appoints NovoMed as distributor in India

AGP launches talent division

Hotel Sahara Star honoured with award

eBay, CAIT partner to benefit Indian traders

Wipro ups IT revenue forecast for first quarter

Germany's SCHOTT cleared of anti-competition charges

Wipro net up 41 percent in Q4

Sensex up 352 points; IT, bank stocks gain

100 companies to take part in India Show in Hong Kong

Sensex surges 352 points; IT, banks jump

Global crude oil price increases to $ 107.50 per bbl

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014


Your e-mail:

Your Full Name:

Type verification image:
verification image, type it in the box


Back to Top