Corporate profit seen jumping by 17.7 pc

Led by financial services sector, India Inc is likely to post 17.7 per cent growth in net profits this fiscal on the back of a 15 per cent rise in revenues, says a CMIE forecast.

The growth in profits going forward is expected to be led by moderation in input prices and rupee appreciation, the Centre for Monitoring Indian Economy (CMIE) said.

The profit growth will be broad-based with all major segments of corporate sector expected to report 15 per cent rise in sales during the fiscal, it noted. The profit of manufacturing sector is likely to grow 15.9 per cent while non-financial and financial services sectors have been pegged at 19.9 per cent and 20.9 per cent, respectively this fiscal.

Observing that corporate profits will grow at a healthy pace in the second half of the fiscal, CMIE forecasts a strong 30.3 per cent growth in the December quarter while 15.5 per cent in the March quarter.

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