Manufacturing companies earned less money from their core business in the September 2024 quarter than in the same period last year.
In fact, the operating profit for these entities is down 18.4 per cent year-on-year, according to data from tracker Centre for Monitoring Indian Economy (CMIE), which looked at the results of manufacturing companies from a sample of 1,740 companies with data available as of the September quarter.
Operating profit is profits before depreciation, interest, tax, and amortisation - net of prior period and extraordinary transactions, other income, and income from financial services.
The fall is worse than the 8.8 per cent decline seen in the June quarter.
Analysts believe a revival may take some time, amid adverse growth indications.
PMI at 11-month low A key index of manufacturing activity, the HSBC India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, declined to an 11-month low in November, according to data released on December 2.
This story is from the December 13, 2024 edition of Business Standard.
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This story is from the December 13, 2024 edition of Business Standard.
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