India Inc is set for a better than expected fiscal with a projected 17.7 per cent growth in net profits on the back of a 15 per cent rise in revenues.
According to the report by Centre for Monitoring Indian Economy (CMIE), an independent economic think-tank headquartered in Mumbai, the growth is led by the financial sector, and was owing to the moderation in input prices and rupee appreciation.
The report said that the profit growth will be broad-based with all the major segments of the corporate sector expected to report 15 per cent rise in sales during the fiscal.
CMIE has forecasted a strong 30.3 per cent growth in the December quarter while 15.5 per cent in the March quarter. It said that the profit of the manufacturing sector is likely to grow 15.9 per cent while non-financial and financial services sectors have been pegged at 19.9 percent and 20.9 percent.