The operating profit margin as well as net profit margin of private sector corporates in India improved across major sectors during 2023-24 while their debt burden declined during the year, reflecting the growing financial strength, according to the latest data compiled by the RBI.

"The operating profits rose by 15.3 per cent during 2023-24 from 4.2 per cent growth during the previous year, at aggregate level. The operating profit growth of the manufacturing and services sector stood at 13.2 per cent and 15.5 per cent respectively, during 2023-24, from (-) 3.9 per cent and 16.8 per cent growth in 2022-23," according to the RBI report.

Profit after tax increased by 16.3% in 2023–2024; businesses in the services sector reported a much higher post-tax profit growth of 38.1% than those in the manufacturing sector, which grew by 7.6%.

Based on the audited annual accounts of 6,955 companies, the Reserve Bank published data about the financial performance of non-government non-financial (NGNF) public limited companies in 2023–2024.