Indian companies are likely to clock 7-8% revenue growth during the March quarter of the current fiscal year, domestic rating agency ICRA said on Monday. It highlighted that the growth will be led by revival in rural demand and uptick in government spending.
ICRA projected the economy to grow at 6.4 per cent in Q3 from 5.4 per cent in Q2, benefitting from enhanced government spending amid uneven consumption.
It said, this is due to the heavy rains and weak margins offsetting the buoyancy injected by the turnaround in Government capital expenditure and healthy trends in kharif sowing.
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Indian apparel exporters will register a 9-11 per cent revenue expansion in FY2025, the independent and professional investment information and credit rating agency, ICRA said on Monday.
The median tariff revision based on the tariff orders issued so far for 2021-22 is less than one per cent and the subsidy dependence for discoms at all-India level is estimated at Rs. 1.3 lakh crore, for the year, it added.
On a sequential basis, the number of departures in June 2021 was higher by 14-15 per cent as Covid-19 infections demonstrated a downward trajectory, the agency said.
Besides, the rating agency expects a 1-4 per cent YoY growth in domestic tractor volumes in FY22.
While uncertainty continues to persist regarding a possible third wave, ICRA said it continues to maintain a 'stable' outlook for the 2W industry.
Alternatively, the tariff increase required to offset such a module price increase is estimated at about 20-22 paise per unit.
