Operating profits recorded double-digit growth in Q3-FY21
Operating profits recorded double-digit growth in Q3-FY21
BusinessToday.In
- Feb 21, 2021,
- Updated Feb 22, 2021 9:38 AM IST
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Net sales grew by 2.3% in Q3-FY21 (YoY) compared to a marginal contraction of 3.8% in the corresponding quarter last year.
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Total expenditure grew by 1.5% in Q3-FY21 (YoY) compared to de-growth of 3.8% in Q3-FY20.
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Operating & manufacturing expenses and tax expenses saw an uptick, which capped the overall improvement in net profits.
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Employee cost registered growth in Q3-FY21 and increased by 3.1 per cent on YoY basis in Q3 FY21.
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Operating profits of companies recorded double-digit growth of 25 % in Q3-FY21 compared to 5.7% in Q3-FY20 on the back of improved net sales and reduction in cost of certain expenditures.
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Higher tax expenses reflect strong profitability of companies. Taxation expenses rose by 52.4 % in Q3 FY21as compared to the degrowth of 22.5 % in Q3 FY20.
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Net profits of companies saw a profound improvement of 59% in the quarter ended December 2020.Story: SHIVANI SHARMADesign: PRAGATI SRIVASTAVA