The Covid-19 pandemic and the subsequent lockdowns seems to have worked in favour of the listed companies in the country as they saw their average quarterly profit double since the outbreak.
Consolidated revenue of the Mumbai-based conglomerate rose 10% year-on-year to ₹52,851 crore in the fourth quarter.
Topline of 3,880 listed companies jumped 34% to ₹54.56 lakh crore, but their cumulative profits after tax surged 133% from ₹4.71 lakh crore.
RIL recorded ₹49,824 crore profit in the first nine months of this financial year.
Market is expecting a stellar performance from financial and information technology sectors that hold 37.5% and 18% weightage, respectively.
OMCs struck oil with inventory gains. Bharat Petroleum's profits zoomed over 400% y-o-y. Metals and pharma players made merry, dominating the list across tiers in the Fortune 500 rankings.
Reliance Industries was the most profitable Indian company in FY21. The pandemic-driven digitisation spree helped IT, with TCS and Infosys in the Fortune 500 rankings. Banks were key beneficiaries.
Robust performance comes on back of all-time high revenue of ₹22.54 lakh crore.
Public sector companies, in many ways, are the true jewels of the 500 list, and prove to be the best bets for those who want to earn steady returns on investments in the form of equity dividends.
The bank’s fresh NPAs or slippages took a sharp drop, falling 69% year on year to Rs 2,777 crore from Rs 8,936 crore last year.
