The companies do not include banks and non-banking finance companies.
The picture looks even more alarming if one compares the results on quarterly basis. These 208 companies together have reported a 4.6% drop in revenues while their net profit slid by nearly 12% when compared to the fourth quarter of the last fiscal, the analysis showed. "Overall, sales growth remains weak on the back of slowing economy and decline in investment cycle. Poor monsoon and resultant higher inflation can further hurt growth, unless investments pick up," said Mukesh Agarwal, president, Crisil Research. "Higher interest costs — up 35% y-o-y — are also hurting the bottomline growth, which we expect to remain in single digit in the near term," he said.
Edited By Cen Fox Post Team
