Private Listed Firms' Revenue Growth Accelerates To 10.1% In Q3 FY26 After 11 Quarters Of Single-Digit Rise: RBI

Mumbai: The Reserve Bank on Wednesday said private listed non-financial companies' revenue growth came at 10.1 per cent in the third quarter of FY26. For the last 11 quarters, the revenue growth was coming in single-digits, data from 3,188 such companies analysed by the central bank pointed out, attributing the acceleration to the performance of the manufacturing sector.

Sales of 1,794 listed private manufacturing companies expanded by 11.4 per cent on-year during the quarter, up from 8.5 per cent in the previous quarter, mainly driven by higher sales growth in automobiles, electrical machinery and non-ferrous metals industries, it said. In the services sector, sales growth of the information technology companies expanded to 8.8 per cent during the quarter from 7.8 per cent in the previous quarter, while the same for non-IT companies remained stable at 10.8 per cent in Q3.

From a profitability perspective, the RBI said that operating profit of manufacturing companies increased by 11.8 per cent during Q3, supported by a moderate rise in other operating expenses. IT companies' operating profit growth improved to 11.1 per cent, while it moderated to 4 per cent for non-IT services companies, it said. The net profit growth of such companies at the aggregate level increased to 5.2 per cent in the October-December 2025 period, up from 1.5 per cent in the preceding quarter, but down compared to 11.8 per cent in the year-ago period.

From an expenditure perspective, raw material expenses of manufacturing companies rose 12.7 per cent in line with the higher sales growth, while the staff costs of manufacturing and IT companies rose at a higher pace of 12.4 per cent and 6.6 per cent, respectively, the central bank said. 

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