India’s top-listed companies register outstanding growth in September quarter

The growth has been bolstered by the increased profitability of firms in the BFSI, Oil and Natural Gas as well as Mining sectors

November 15, 2021

ONGC, Reliance Industries and Tata Steel were the three top-performing companies in the period.

Commodities sector companies have experienced a growth in topline parameters.

CEA Sh KV Subramanian noted that the economy will experience 6.5-7% growth during the rest of FY22.

Supply-focused policies are expected to lead the economy towards double-digit growth in the forthcoming year.

 India’s top listed companies exhibited a net profit of US$ 32 billion (Rs 2.39 trillion) in the September quarter of FY 22, marking a 46.4% year-on-year increase. The growth has been propelled by an increase in the profitability of oil and natural gas firms, Banks, Non Banking Financial Companies (NBFCs) as well as metal and mining firms. The top three profitable firms hailed from the energy and commodities sectors with the Oil and Natural Gas Company, Reliance Industries and Tata Steel leading the way. The Banking, Financial Services and Insurance (BFSI) sector recorded net profits worth US$ 8.6 billion (Rs 64,250 crore), Oil and Natural Gas sector with US$ 6.4 billion (Rs 47,750 crore) and the Metals and Mining sector with US$ 5.5 billion (Rs 41,390 crore), making them the top three well-performing sectors. Entities in the commodities sector are seen to have experienced topline growth although experts maintain cautious optimism in the longer run. 

This is in line with the projected growth in the Indian economy. The economy is expected to grow by 6.5-7% in FY2021-22, unhindered by the pace of commodity inflation according to outgoing chief economic advisor (CEA) K V Subramanian.  The CEA also attributed the current rate of global inflation (4.5%) to policies focused on increasing demand as against supply. With a supply-focused policy in place, India is expected to experience a double digit growth in the current year and a 7% growth in the subsequent year, noted Sh Subramanian.