Listed private mfg firms' sales soar 75% in Q1 on low base: RBI data

Mumbai: Sales of 1,647 listed private manufacturing companies recorded "extraordinarily high" growth of 75 per cent in the first quarter of FY'22 mainly due to a very low base in the pandemic-hit year-ago period, showed RBI data released on Monday.

Their sales had declined by 41.1 per cent in the April-June quarter of FY2020-21.

In absolute terms, the sales of the manufacturing companies worked out at Rs 7,02,791 crore as against Rs 3,97,233 crore in the first quarter of FY2020-21.

Sales growth (y-o-y) of information technology (IT) sector companies, which remained in the positive terrain throughout the pandemic, accelerated to 17.5 per cent in first three months period of 2021-22 from 6.4 per cent in the previous quarter. In absolute term, the sales were worth about Rs 1,13,807 crore.

"Sales of non-IT services companies also surged (y-o-y) in Q1:2021-22, but the revenues of telecom companies within this group declined," the RBI said.

The data on the performance of the private corporate sector during the first quarter of 2021-22 is drawn from abridged quarterly financial results of 2,610 listed non-government non-financial (NGNF)

companies.