The Nifty 50 is one of the most followed stock market indices in India. Recently, NSE authorities have produced a snapshot of how PAT (Profit After Tax) has grown for different sectors of the companies comprising the index in FY24. The total PAT of all the companies comprising the index stood at Rs 8.20 lakh crore, which registered a growth of 27%.
Consumer discretionary companies
The sector that registered the biggest growth in net profits in the last financial year was consumer discretionary goods. It registered a PAT growth of 123.7%. In absolute figures, it stood at Rs 76,519 crore.
Energy sector
Next in the pecking order came the energy sector with 37.4% growth in PAT. The cumulative net profit for the energy companies in Nifty 50 stood at Rs 1.96 lakh crore in FY24.
Financial services
The financial services sector which achieved the third highest growth rate of 30.6%, actually netted the highest PAT figure in absolute terms – Rs 2.61 lakh crore. According to NSE figures, the cumulative profits of three sectors financial services, energy and information technology comprised 68.91% of the total net profits of all the companies comprising the Nifty 50 index in FY24.
Industrials
The industrials sector also recorded a 30.6% rise in net profit. The cumulative PAT of this sector was Rs 28,415 crore.
Healthcare
Healthcare companies included in the Nifty 50 recorded a total profit of Rs 22,510 crore showing a 21.6% growth.
Utilities
The utilities sector collective PAT rose by 13.2% in the last financial year and stood at Rs 36,903 crore.
Information technology
The profits of information technology companies lost a lot of shine and stood at only 6.2%, recording a cumulative figure of Rs 1.07 lakh crore.
Consumer staples
At the bottom of the positive PAT heap were consumer staples. These companies registered a total PAT of Rs 37,446 crore.
Communication services and materials
Communication services and materials were the two sectors that registered contraction in PAT as categories. While the net profit of communication services companies fell by 18.3%, that of the materials sector declined by 7.8%. The cumulative net profit of the communication services sector was Rs 10,039 crore. The total net profit of the materials sector companies stood at Rs 43,072 crore in FY24.
The NSE ranked 10 sectors according to their net profits. Eight sectors registered positive PAT growth while the profits of two sectors shrank. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
