The nine-month net profit of 1,289 companies in the private sector is already more than their last full financial year's numbers.
A study shows that these firms have reported an aggregate net profit of Rs 24,113 crore (Rs 241.13 billion) in the first nine months of 2003-04, 4.6 per cent more than the net profit of Rs 23,053 crore (Rs 230.53 billion) clocked for 2002-03.
Of the lot, the performance of 549 companies was exceptional -- they accounted for 42.12 per cent of the total net profit of 1,289 companies. Of this exceptional lot, 453 companies posted bottom lines that were an average 38 per cent more than their last year's profits.
And as many as 96 firms staged turnarounds during the first nine months by aggregating a net profit of Rs 545 crore (Rs 5.45 billion) against a net loss of Rs 740 crore (Rs 7.40 billion) in the last financial year.
The performance of the remaining 740 companies has been no less exhilarating -- their aggregate net profit is at almost 82 per cent of their 2002-03 bottom line.
On the whole, the net profit of 1,289 firms increased 53.21 per cent to Rs 24,205 crore (Rs 242.05 billion) during April-December 2003 from Rs 15,798 crore (Rs 157.98 billion) in the corresponding nine months of 2002-03.
Of the 108 sectors classified by the BS Research Bureau, 45 have rushed past their last full year's net profits in nine months.
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