Mumbai, India Inc is likely to post 4-6 per cent revenue growth in the January-March quarter of 2023-24, the slowest quarterly growth since the recovery from the Covid-19 pandemic began in September 2021, according to a Said in the crisis report.
The report is based on an analysis of 350 companies that excludes companies in the financial services and oil and gas sectors.
This moderation comes after strong growth in the past years, the report said, adding that “only 12 of the 47 sectors monitored by CRISIL are expected to improve sequentially and year-on-year revenue growth for the quarter. "
Consumer discretionary products and services are expected to remain in growth in the January-March quarter.
Among discretionary products, the automobile sector was driven by healthy growth in passenger vehicles led by higher volumes and price increases in the past year.
The report said the organized retail sector has grown for the thirteenth consecutive quarter due to healthy urban demand. Discretionary services, such as airlines and hotels, benefited from a boom in MICE (meetings, incentives, conferences and exhibitions) weddings and corporate travel.
On the other hand, it said, revenues from construction-related sectors are expected to grow at a slower pace, essentially due to the high base of Q4FY23, with construction companies posting the highest quarterly revenues.
The report further said that despite stable demand during the quarter, the cement sector recorded moderate revenue growth as prices remained under pressure amid higher supply and intense competition.
The report is based on an analysis of 350 companies that excludes companies in the financial services and oil and gas sectors.
This moderation comes after strong growth in the past years, the report said, adding that “only 12 of the 47 sectors monitored by CRISIL are expected to improve sequentially and year-on-year revenue growth for the quarter. "
Consumer discretionary products and services are expected to remain in growth in the January-March quarter.
Among discretionary products, the automobile sector was driven by healthy growth in passenger vehicles led by higher volumes and price increases in the past year.
The report said the organized retail sector has grown for the thirteenth consecutive quarter due to healthy urban demand. Discretionary services, such as airlines and hotels, benefited from a boom in MICE (meetings, incentives, conferences and exhibitions) weddings and corporate travel.
On the other hand, it said, revenues from construction-related sectors are expected to grow at a slower pace, essentially due to the high base of Q4FY23, with construction companies posting the highest quarterly revenues.
The report further said that despite stable demand during the quarter, the cement sector recorded moderate revenue growth as prices remained under pressure amid higher supply and intense competition.
