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<p style="text-align:justify"><em>This is in contrast to estimated 84% of Indian families reporting decline in their earnings due to pandemic related lockdowns and restrictions.</em></p>
<p style="text-align:justify">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. </p>
<p style="text-align:justify">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.</p>
<p style="text-align:justify">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.</p>
<p style="text-align:justify">Earlier this year, a briefing by Oxfam had pointed out that during the pandemic (March 2020 to November 2021) incomes of 84% of households in the country declined but the number of Indian billionaires grew from 102 to 142 and their collective wealth increased from Rs. 23.14 lakh crore ($313 billion) to Rs. 53.16 lakh crore ($719 billion). More than 4.6 crore Indians, meanwhile, are estimated to have fallen into extreme poverty in 2020 (nearly half of the global new poor, according to the United Nations.) “The stark wealth inequality in India is a result of an economic system rigged in favour of the super-rich over the poor and marginalised,” the study added.</p>
<p style="text-align:justify">Please <a href="https://www.newsclick.in/record-profits-boost-corporate-sector-pandemic">click here</a> to read more. </p>
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LATEST NEWS UPDATES | Record Profits Boost Corporate Sector in Pandemic -Subodh Varma </title>
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This is in contrast to estimated 84% of Indian families reporting decline in their earnings due to pandemic related lockdowns and restrictions.
The trend was visible from last year but the scale of profits reported by listed companies after the last..."/>
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This is in contrast to estimated 84% of Indian families reporting decline in their earnings due to pandemic related lockdowns and restrictions.
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<br><small>June 12, 2022</small>
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This is in contrast to estimated 84% of Indian families reporting decline in their earnings due to pandemic related lockdowns and restrictions.
The trend was visible from last year but the scale of profits reported by listed companies after the last financial year ended in March...</p>
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<br><small>June 11, 2022</small>
<p style="padding-top: 6px;">-ThePrint.in
The govt Wednesday raised support prices for 14 crops by 6 per cent, on an average — the highest in four years.
New Delhi: India’s latest price support policy for farmers places more emphasis on keeping consumer inflation in check than reflecting the new normal of...</p>
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The Union culture ministry claimed that the news report about the study was misleading and that it was not related to establishing ‘genetics history’.
Several scientists, historians, writers, former bureaucrats and others on Friday wrote to the Ministry of Culture to express concern over a report...</p>
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<br><small>June 11, 2022</small>
<p style="padding-top: 6px;">-TheWire.in
* India has reduced open defecation and made some progress to improve sanitation services. But its sanitation system is not yet sustainable and not yet safe.
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<br><small>June 11, 2022</small>
<p style="padding-top: 6px;">-Scroll.in
BJP leaders are promoting the regime’s achievements in developing airports, air routes and national highways. Here’s what official records say.
The Narendra Modi-led National Democratic Alliance government completed eight years in power in May. Using the hashtag #8YearsOfInfraGati, the incumbent government, BJP leaders and several ministers,...</p>
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<br><small>June 12, 2022</small>
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This is in contrast to estimated 84% of Indian families reporting decline in their earnings due to pandemic related lockdowns and restrictions.
The trend was visible from last year but the scale of profits reported by listed companies after the last financial year ended in March...</p>
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<br><small>June 11, 2022</small>
<p style="padding-top: 6px;">-ThePrint.in
The govt Wednesday raised support prices for 14 crops by 6 per cent, on an average — the highest in four years.
New Delhi: India’s latest price support policy for farmers places more emphasis on keeping consumer inflation in check than reflecting the new normal of...</p>
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The Union culture ministry claimed that the news report about the study was misleading and that it was not related to establishing ‘genetics history’.
Several scientists, historians, writers, former bureaucrats and others on Friday wrote to the Ministry of Culture to express concern over a report...</p>
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<br><small>June 11, 2022</small>
<p style="padding-top: 6px;">-TheWire.in
* India has reduced open defecation and made some progress to improve sanitation services. But its sanitation system is not yet sustainable and not yet safe.
* In Tapoban Basti in Bhubaneswar, some men avoid using the toilet every day to not have to incur the...</p>
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<br><small>June 11, 2022</small>
<p style="padding-top: 6px;">-Scroll.in
BJP leaders are promoting the regime’s achievements in developing airports, air routes and national highways. Here’s what official records say.
The Narendra Modi-led National Democratic Alliance government completed eight years in power in May. Using the hashtag #8YearsOfInfraGati, the incumbent government, BJP leaders and several ministers,...</p>
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<br><small>June 11, 2022</small>
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The govt Wednesday raised support prices for 14 crops by 6 per cent, on an average — the highest in four years.
New Delhi: India’s latest price support policy for farmers places more emphasis on keeping consumer inflation in check than reflecting the new normal of...</p>
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The Union culture ministry claimed that the news report about the study was misleading and that it was not related to establishing ‘genetics history’.
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<p style="padding-top: 6px;">-TheWire.in
* India has reduced open defecation and made some progress to improve sanitation services. But its sanitation system is not yet sustainable and not yet safe.
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<br><small>June 11, 2022</small>
<p style="padding-top: 6px;">-Scroll.in
BJP leaders are promoting the regime’s achievements in developing airports, air routes and national highways. Here’s what official records say.
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LATEST NEWS UPDATES | Record Profits Boost Corporate Sector in Pandemic -Subodh Varma
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