Deputy governor of reserve bank of india, Bank

Chennai, Aug 25 The Reserve Bank of India (RBI) on Thursday said the first quarter of FY23 saw listed private non-financial companies log 41 per cent sales growth.The RBI came out with its report, drawing the data from the abridged quarterly financial results of 2,749 listed private non-financial companies."Sales growth (yoy) of listed private non-financial companies surged to 41.0 per cent in Q1:2022-23 from 22.3 per cent in the previous quarter," it said.According to the RBI, manufacturing logged sales growth of 41.6 per cent driven by broad based demand expansion across industries aided by both volume and price effects.Annual sales growth of information technology (IT) companies, which remained steady in positive terrain even during the Covid-19 pandemic, stood at 21.3 per cent during the latest quarter, it said.Sales of non-IT services companies swelled by 62.1 per cent (yoy) in Q1:2022-23, as service activities continued their ascend on strong revival path after the second wave of the pandemic a year ago - hotels and restaurant, transport, trade and real estate sectors bounced back sharply, the report notes.On expenditure, the RBI said the raw material expenses increased by 52 per cent yoy in tandem with robust demand expansion, and the ratio of raw material expenditure to sales moved up on both sequential as well as annual basis.Annual growth in staff cost for manufacturing, IT and non-IT services companies stood at 10.3 per cent, 23.5 per cent, and 20 per cent, respectively, whereas the ratio of their staff cost to sales stood at 5 per cent, 50.1 per cent, and 8 per cent, respectively.According to the RBI, the operating profit margin moderated for manufacturing and IT companies both on sequential and annual basis.Pricing power, as reflected in net profit margin, moderated for manufacturing and IT companies, whereas it remained in negative terrain for non-IT services companies, mainly due to the losses recorded by telecom and transport companies.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Deputy Governor Of Reserve Bank Of IndiaFOLLOW

Deputy governor of reserve bank of india, Latest News

London, Sep 7 New Prime Minister of the UK, Liz Truss, said that she will prioritise economic growth, ... ...

New Delhi, Sep 2 Till August 5, 2019 when the Centre abrogated J&Ks special status and divided it ... ...

The Reserve Bank of India (RBI) on Tuesday announced the launch of the September 2022 round of inflation expectations survey of households. ...

Adequate rainfall across the country along with the start of the long festive season will keep the demand for automobiles positive and help keep the momentum going, rating agency CareEdge said in a report on Tuesday. ...

New Delhi, Aug 28 Banking frauds have taken varied dimensions with the passage of time. With the advent ... ...

Kochi police on Saturday arrested a native of Uttar Pradesh for allegedly stealing money from 140 ATMs of South Indian Bank in Kochi, said a statement by the Bank. ...

Chennai, Aug 25 Credit growth outpaced deposit growth for commercial banks in June, the Reserve Bank of India ... ...

Chennai, Aug 25 The Reserve Bank of India (RBI) on Thursday said the first quarter of FY23 saw ... ...