The Supreme Court recently said that education should not be made a business. But on Wednesday, a report said that education and training companies stood second in terms of profit. While their profit increased by 182.4% in July-September as compared to a year ago, the profit of realty companies increased by 429.2%. A Bank of Baroda report says that the profit of companies related to agriculture increased by 97.9% while companies related to alcohol earned 74.4% more profit.
Survey of 1917 companies, sales increased, but profit fell, Infra's profit increased by 45.8%
Consumer durables profits jumped 99.9% while healthcare profits jumped 41%. Infra profit increased by 45.8% while retail profit increased by 56.4%. Trading profits registered a jump of 188.7%.
The hospitality sector in the worst loss
The hospitality sector was hit the most. Its profits have registered a decline of 254%. Paper industry profits fell 195% while photographic product profits fell 137%. Construction material companies posted a loss of 74.4%, while crude oil companies posted a 56% drop in profits. A 68% decrease in the profit of the plastic products industry and a 53.4% decline in the profit of the textile industry were recorded.
The study of 1,917 companies shows that their sales are increasing continuously but profits are affected due to high expenses. Their sales have increased by 24% to Rs 25.6 lakh crore as compared to Rs 20.6 lakh crore a year ago.
Net profit fell 5.4% to Rs 2.18 lakh crore from Rs 2.31 lakh crore a year ago. Expenditure increased from 15.81 lakh crore to 20.66 lakh crore, which is an increase of 30.7 percent.
Also Read: Central Government: Government companies go to bankruptcy court to close loss-making units
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