Net profit of listed private sector companies recorded 16% growth in 2nd quarter: RBI

The Reserve Bank of India has said that net profit of listed private sector companies recorded a robust growth of 16 per cent in the second quarter of the fiscal compared to 11.2 per cent in the previous quarter. Among the sectors, manufacturing continued to record high net profit growth, whereas services (Non-IT) sector continued to witness contraction in net profits but at a much lower rate. 

The Central Bank said, that aggregate sales growth (Year-on-Year) of the listed non-government non-financial (NGNF) companies grew by 1.9 per cent in Quarter two of 2016-17, after near



stagnation in Quarter 1. The data is based on abridged financial results of 2,702 listed non-government non-financial companies for second quarter of 2016-17. 

The apex bank further said interest expenses remained unchanged in the second quarter which helped in a robust growth of 16 per cent in net profits at the aggregate level. Sales growth improved significantly (3.7 per cent) for the manufacturing sector after contraction in the previous quarter. However, sales of the services (Non-IT) sector continued to contract and IT sector witnessed deceleration of sales growth.