India Inc. smiles as revenues soar

India Inc. smiles as revenues soar
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First Published: Sun, Feb 04 2007. 04 02 PM IST
Updated: Sun, Feb 04 2007. 04 02 PM IST
Agencies
New Delhi: It was yet another reason to celebrate as the ‘India story´got brighter with corporates recording a net a phenomenal gain of Rs 336 billion in revenues and Rs 61 billion in profits for the October-December earnings season.
An analysis of the 30 blue chip Sensex firms show they have garnered combined profits of about Rs 23,247.61 crore, which is 35 % more than what the companies recorded in the previous quarter a year ago.
With all that money stored in company coffers, shareholders can expect a windfall headed their way through dividends or the companies could opt for a spending spree via the acquisition route.
In all, the companies listed on Sensex posted a total income of about Rs 1,39,000 crore in the latest quarter, almost one-third more than Rs 1,06,000 crore in the December quarter of 2005, an analysis of the combined results of the blue chip firms show.
Corporate behemoth Reliance Industries Ltd (RIL) leads the growth charts with Rs 8,166 crore gain in total income on an year-on-year basis, while it posted a net profit at Rs 2,799 crore for the December quarter.
State-run ONGC posted a topline of Rs 16,269 crore in the latest quarter and largest private sector lender ICICI Bank with revenues of Rs 7,800 crore — have continued the positive run clocking revenues of about Rs 3,231 crore and Rs 3,042 crore on an year-on-year basis respectively.
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First Published: Sun, Feb 04 2007. 04 02 PM IST
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