The trend was visible from last year but the scale of profits reported by listed companies after the last financial year ended in March this year is nothing short of mind-boggling. According to latest data by CMIE or Centre for Monitoring Indian Economy, companies listed at the BSE (formerly known as Bombay Stock Exchange) have reported a collective profit of Rs.9.3 lakh crore in 2021-22. This is over 70% more than the previous year and nearly three times more than the average profit earned every year for a decade before the pandemic, that is, between 2010-11 and 2019-20. (See chart below)
https://www.newsclick.in/sites/default/files/styles/responsive_885/public/2022-06/Net%20profit%20for%20Listed%20Companies.png?itok=mg7jTjpN
Even in the first year of the pandemic, 2020-21, the profit of these listed companies had touched a record of Rs.5.5 lakh crore, more than double the preceding year. But the profits accumulated in the second pandemic year have beaten all records.
These estimates are based on the financial statements of 3,288 listed companies that had published their statements for the quarter ended March 2022, by May 30, 2022. There are about 4,700 companies in all. CMIE says that the results of the remaining 1,500 companies are unlikely “to make a material difference to the analysis” because these 3,288 companies accounted for over 90% of the total sales of all listed companies in the previous quarter.
— source newsclick.in | Subodh Varma | 12 Jun 2022