Data recap: Q2 earnings, GDP, pulses prices

livemint.com:

Mint in the week gone by. The second quarter was a mixed one for India Inc, with strong profit growth but the rise in revenues remaining subdued. Meanwhile, the GDP growth figures for the second quarter are also out.

The second quarter earnings season ended on a mixed note, with profits soaring but revenues showing slower expansion, a Plain Facts analysis of 3,559 BSE-listed companies showed. While the aggregate profit growth nearly 36% year-on-year, revenue growth was just 4.7%. Among the sectors, banking, financial services and insurance (BFSI), media and entertainment, and hospitality were among the best performing, while agriculture and allied, oil and gas and chemicals were among the worst.

While overall inflation has moderated sharply since July, the prices of pulses are continuing to rise mainly due to low sowing. The area under rain-fed kharif pulses this year was 11.5% less than the five-year average, Mint reported citing data from the agriculture ministry. Production was also impacted in major growing states such as Karnataka, Madhya Pradesh and Maharashtra due to below-normal monsoon.

Apart from weather-related issues, low yielding and long duration nature of crops like tur disincentivise farmers, leading to lower production. $1 billion: That’s the amount for which leading hospital chain Aster DM Healthcare Ltd will divest its Gulf business,Mint reported. The company will sell the business to its Indian promoters (Moopen family) and a Dubai consortium.