Operating profits recorded double-digit growth in Q3-FY21

Net sales grew by 2.3% in Q3-FY21 (YoY) compared to a marginal contraction of 3.8% in the corresponding quarter last year.  

Total expenditure grew by 1.5% in Q3-FY21 (YoY) compared to de-growth of 3.8% in Q3-FY20.

Operating & manufacturing expenses and tax expenses saw an uptick, which capped the overall improvement in net profits.

Employee cost registered growth in Q3-FY21 and increased by 3.1 per cent on YoY basis in Q3 FY21.

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.

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.

Net profits of companies saw a profound improvement of 59% in the quarter ended December 2020.

Story: SHIVANI SHARMA

Design: PRAGATI SRIVASTAVA