Mumbai : Aggregate sales growth of the listed private companies slowed down to 0.1 per cent in the Q1 of 2016-17 y-o-y, RBI data said, reports PTI. Expenditure, at the aggregate level, continued to contract, though at a lower rate as compared with the previous quarter. “This resulted in a slowdown in operating profit at the aggregate level.

Net profit growth also decelerated at the aggregate level,” RBI said. Net profit growth at the aggregate level declined to 11.2 per cent in April-June period from 16.4 per cent in the previous quarter. Among the sectors, net profit decelerated significantly for the IT sector, contracted substantially for the services (other than IT) sector and improved for the manufacturing sector. It is based on abridged financial results of 2,775 listed non-government non-financial companies for Q1:2016-17 “At the aggregate level, operating profit decelerated to 9.6 per cent in Q1:2016-17 from 16.8 per cent in the previous quarter. For the manufacturing sector, growth in operating profit in Q1 of 2016-17 was almost similar to that of the previous quarter.

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