The second quarter results of Indian companies are out. They continue the trend of sustained growth.

Even as other global economies are striving hard, the second quarter performance of the Indian economy was outstanding. The Mumbai blast towards the end of August 2003 and the setback to oil sector disinvestments because of a court decision, could not dampen the positive business sentiments. The upswing in the business cycle is reflected in rising non-oil imports, robust growth in sales of commercial vehicles and railway freight traffic, and healthy growth in the Index of Industrial Production (IIP). A net profit margin of 8.7% has been recorded unlike the second quarter of FY 2003, which recorded a margin of 7.7%. The inflation rate at the end of the second quarter stood at 5% reflecting the upward trend in prices of manufactured products.

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