However, this was much higher than the 2.71% growth seen in the corresponding quarter of the previous fiscal year. For 32 Nifty firms, adjusted net profit growth was at 3.16% from 7.63% during the period. Year-on-year growth in raw material costs for these companies were at 14.94% in the March quarter, against 17.26% in the preceding quarter. Meanwhile, employee costs of the same set of companies climbed to 15.35% in March quarter from 9.32% in the December quarter. Interest coverage ratio, which measures a firm’s ability to cover its interest costs, was at a 22-quarter high.

Source: Mint May 30, 2018 17:48 UTC