Little to cheer for in Q3 early bird results; non-BFSI companies lag

In the slow lane: 2.5% rise in profit the least in 10 quarters

The early bird results for Q3FY23 hint at a further slowdown in corporate earnings and revenue growth.

The combined net profit of 225 early bird companies across sectors was up 2.5 per cent year-on-year (YoY) in the third quarter of 2022-23 but this was the least increase in 10 quarters. These companies’ combined net sales in the October-December period were up 18.2 per cent — the most sluggish growth in seven quarters.

The firms in Business Standard’s sample reported a combined net profit of Rs 90,293 crore in Q3FY23, up from Rs 88,124 crore a year ago and Rs 80,161 crore