Adjusted net profit growth turned positive in July-September after a year-long slump as consumers shrugged off the pandemic to deliver a surprise rebound in consumption while cost-saving measures continued to keep expenses under control. A Mint analysis of 1,774 publicly traded companies that have reported their fiscal second-quarter earnings showed that net profit after adjusting for one-time items grew 1.42% from a year earlier, according to data compiled by Capitaline. Net sales of the companies surveyed, although still in the negative territory, have also improved substantially in the September quarter from the preceding three months. The net profit margin of these firms expanded to 8.78% in the three months to September from 1.26% in the preceding quarter and 5.63% a year ago. Similarly, operating profit margin widened to 22.95% in the September quarter from 18.73% in the preceding three months and 17.25% in the September quarter of past fiscal.

Source: Mint November 16, 2020 00:33 UTC