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Sunday, May 15, 2016
Corporate Results Show Signs of Recovery in Q4: BS
After a poor report card during the first nine months of financial year 2015-16, corporate results for the fourth quarter offer hope of a recovery.
The combined net sales of 350 companies, which have declared results so far (upto 8th May, 2016), were up 5.6%, year-on-year (y-o-y) for the quarter ended March 31, 2016. This marked the fastest growth in the past six quarters, reports Business Standard.
Before this, these companies had reported a decline in revenue for four consecutive quarters.
The combined net profit (adjusted for exceptional gains and losses) was up 16.9% y-o-y, growing at the fastest pace in the past six quarters.
The reported net profit was, however, down 8.8% y-o-y, resulting in a decline in companies’ underlying earnings per share.