MUMBAI: Net profit of manufacturing companies rose by 50.2 per cent in the last fiscal, according to the Reserve Bank of India (RBI).
In the last financial year, the net profit of companies in the manufacturing sector in India has increased by 50.2 per cent and the net profit of companies in the IT sector has also increased. However, the non-IT services sector continues to suffer losses.
The net profit margin of product and information technology companies has remained stable. Moreover, sales and profits of private corporations have seen healthy growth over the past financial year, following the isolation of Corona vulnerabilities. During the period under review, raw material prices increased by almost 48.6 per cent. Thus, the Reserve Bank said.