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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (8731)	10/21/1999 5:17:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Net Profit up 25.5% for 130 companies; results confirm recovery ? (Friday, October 22, 1999) B G Shirsat & Deepak Korgoankar in Mumbai The performance of the 130 companies that have declared their results for the quarter ended September 30 confirm the economic recovery in the current year. The sample companies ? accounting for 23.28 per cent of the market capitalisation on the Bombay Stock Exchange ? registered a 22.4 per cent growth in sales and a 25.5 per cent rise in net profit over the corresponding period of the previous year. The improvement in performance can be judged from the fact that the rate of growth in sales and profits in second quarter is significantly higher than that for the earlier quarter (ended June 99). The sample of 109 companies for which comparable data for the quarters ended April-June and July-September 1999 is available, shows that sales in the latter quarter increased by 22.5 per cent compared with 11.0 per cent in the earlier quarter. Similarly, the net profit shot up nearly five-fold in percentage terms to 21.9 per cent from a measly 4.4 per cent in the April-June 1999 quarter. Profitability indicators ? operating profit margins, gross profit margins and net profit margins ? also recorded a rise of nearly two percentage points each. [BS]