The corporate sector in India is expected to post a 17.7 per cent year-on-year increase in net profits in the current financial year helped by high growth in the financial services sector, the Centre for Monitoring Indian Economy (CMIE) said in its latest projections.
Corporates posted a 15 per cent increase in revenues in this fiscal, CMIE said in its latest projections.
However, going forward, the growth in profits is expected to be led by a moderation in input costs and an appreciation of the rupee, CMIE said.
The think-tank projects a broad-based profit growth with all the major segments of the corporate sector reporting 15 per cent rise in sales during the fiscal.
Despite the current downturn, CMIE expects profit in the manufacturing sector to grow 15.9 per cent, with margins in the non-financial and financial services sectors growing at 19.9 per cent and 20.9 per cent, respectively, this fiscal.
CMIE has projected corporate profits growing at 30.3 per cent in the December quarter and by 15.5 per cent in the March quarter.