India's Q3 FY24 GDP growth likely 6.8% on unchanged base: SBI ECOWRAP

That slight decline indicates the gross domestic product (GDP) may grow in the range of 6.7-6.9 per cent, according to the latest issue of SBI newsletter ECOWRAP.

Corporate India continued its robust performance in Q3 FY24, buoyed by incrementally accelerating consumption patterns across urban-rural landscape, Corporate results for Q3 FY24, as recorded from around 4,000 listed entities, shows robust growth of more than 30 per cent in both earnings before interest, taxes, depreciation and amortisation (EBIDTA) and profit after tax (PAT), while top line grew by around 7 per cent compared to Q3 FY23.

Further, listed entities reported improvement in margin, as reflected in results of around 3,000 listed entities excluding banking, financial services and insurance, with EBIDTA margin of 14.95 per cent on an aggregate basis during Q3 FY24 compared to around 12 per cent during the same period in the previous fiscal.

Corporate gross value added (GVA), as measured by EBIDTA plus employee expenses reported a strong growth of around 26 per cent in the quarter compared to Q3 FY23, the newsletter noted.

Consumer confidence strengthened further during the quarter, driven especially by optimism about the general economic situation and employment conditions. Various enterprise surveys also point towards strong business optimism, the newsletter added.

Fibre2Fashion News Desk (DS)