A Moneycontrol analysis of 140 listed companies that have announced third-quarter earnings showed that their net profit grew by 5.65 percent from a year earlier compared with 3.26 percent growth in the September quarter.
The operating profit margin was 23.64 percent in the third quarter, the slowest since Q4 of FY19.
“In the initial trend, the IT pack certainly deserves mention as mostly showing growth in sales and profitability trend with encouraging guidance,” said Ajit Mishra, VP – research at Religare Broking.
The rural economy is moderating and a reversal of this is possible only through government support, Hindustan Unilever said on its earnings call on January 20.
Bajaj Auto, a manufacturer of motorcycles and three-wheelers, said earlier that there was demand pressure on motorcycle sales in January.