MUMBAI: The partial impact of nationwide lockdown in March quarter notwithstanding, early trends in corporate earnings show that business growth had already been impacted by the ongoing economic slowdown preceding covid-19.
However, low raw material costs aided margins in some companies. A Mint analysis showed that net sales of 105 BSE-listed companies, which have reported earnings so far, contracted by -0.82% in January-March period, a 21-quarter low.
Net sales of these companies in March quarter last fiscal grew 14.74% while it was 5.12% in December quarter of FY20. Aggregate net profit growth of these companies was at -0.50% in Q4 from 7.02% in preceding quarter and -5.09% in March quarter last fiscal, according to data provider