The Reserve Bank of India (RBI) in its latest report on ‘the performance of the private corporate sector during 2022-23’ has showed that listed private non-financial companies recorded sales growth (y-o-y) of 19.8 per cent, where manufacturing sector recorded 18.0 per cent growth, mainly led by automobiles, petroleum, and chemical industries during 2022-23. The released data of the performance of the private corporate sector during 2022-23 is drawn from abridged financial results of 3,115 listed non-government non-financial (NGNF) companies.
As per the report, information technology (IT) sector sustained its high growth momentum and the performance of non-IT services companies improved further during 2022-23, led by robust growth in trade and transport sector. On the expenditure front, improved demand conditions and commensurate sales growth led to increase in manufacturing companies’ expenses on raw material and employees.
The report further noted that profit margins of manufacturing and IT companies moderated during 2022-23; for non-IT services companies, operating profit margin remained stable, but they continued to record losses on a net basis.
