Net profit, which had declined by 74.7 per cent in the June quarter, recorded a multi-fold increase in the September quarter at 263 per cent sequentially, according to the Centre for Monitoring Indian Economy.
Net profit has swelled despite a marginal fall in the topline — gross revenue or gross sales. The topline of the listed companies fell by around 5.7 per cent in Q2, compared to a fall of 27.3 per cent in Q1. The data is based on the Q2 financial statements of 1,897 companies as of 11 November 2020.
The companies together generated Rs 1.3 lakh crore of net profit during Q2, which is the highest net profit generated by the listed companies during any quarter in the past.
In fact, it is 25 per cent higher than the highest profit ever made by these companies in any past quarter. The highest profit made by these companies in the past was Rs 1.06 lakh crore in the quarter ended June 2019, CMIE underlined.
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