banking and finance sector companies: Two years after the corona epidemic, a strong position has been seen in most of the corporate sectors. There was a positive trend in most of the sectors of the country in spite of the ever-increasing inflation at the global level, increase in interest rates, decrease in demand. Revenue and profit of auto mobile, bank and finance companies grew the most at 61% last quarter.
Insurance companies also performed well. While the profits of IT and FMCG companies have increased marginally. On the other hand, revenues and profits of cement, building materials companies fell by 73%. Telecom companies also performed poorly. As of November 7, more than 85% of the Nifty 50 companies and nearly 60% of the companies included in the BSE 500 have declared results for the July-September quarter.
Banking, Finance: High earning sector
- 5 times jump in credit compared to last year
- Net interest income of banks, finance companies increased
- Increase of 15% in new premium of insurance companies
Cement sector: Decline in revenue
- Commodity led to cost increase
- Operating margin decreased from 12% to 10.7%
- Weak demand for cement in rural areas