India Inc.’s profit growth during the September quarter earnings season remained robust driven mostly by reduction in input costs & by cost cutting measures. Notably, domestic cyclical companies in the automobile, BFSI, and cement sectors led the positive trend, while FMCG and IT sectors failed to make a significant impact on the markets due to subdued growth in both top and bottom-line figures.
Estate planning is a crucial endeavour for every adult, allowing them to shape the destiny of their assets after they pass away. It is an act of kindness towards their loved ones, providing clarity on their wishes. Two primary avenues for achieving this are trusts and wills, each serving the purpose of asset distribution upon one’s demise, albeit through distinct legal mechanisms.
JPMorgan Chase & Co. will add Indian government bonds to its benchmark emerging-market index (GBI-EM) starting June 28, 2024. This move carries substantial implications for India’s debt market and global investors, with India’s weight in the index limited to a maximum of 10% and eligible Government bonds valued at $330 billion, analysts said. Analysts estimates potential flows of up to $30 billion as a result of this.
Corporate India is currently reaping the benefits of remarkably elevated margins and profits. The collective net profit for publicly listed companies achieved an unprecedented peak in the quarter spanning April to June 2023. This achievement can be attributed to a significant upswing in both operating and net profits due to a moderation in cost of raw materials. The expansion of profit margins has effectively counterbalanced the deceleration in revenue growth, which during the same time period, dipped into single-digit territory for the first time in nine quarters.
The corporate results of first quarter of FY24 so far (excluding financial services firms) have reflected a substantial surge in profits but a decline in net sales,. Out of the 635 non-financial companies that have reported their results, the combined sales have decreased by 2.82% to reach ₹13.91 lakh crore, according to data from the CMIE. Remarkably, even Reliance Industries, the country’s largest revenue-generating company, faced a 4.69% drop in revenues, totaling ₹2,31,132 crore, alongside a 10.8% decrease in net profit, amounting to ₹16,011 crore.