IT sector sales rise 5.2% in third quarter, shows RBI data

Information technology (IT) sector remained in the positive terrain throughout the COVID-19 pandemic period and its sales increased by 5.2 per cent year-on-year in the third quarter of 2020-21, according to the RBI data on performance of private sector corporate released on Friday.

The data is drawn from abridged quarterly financial results of 2,692 listed non-government non-financial (NGNF) companies.

With gradual easing of restrictions related to the COVID-19 pandemic and rebound in demand conditions, sales of 1,685 manufacturing companies expanded by 7.4 per cent (Y-o-Y) in October-December quarter of 2020-21 after recording contraction during the preceding six quarters.

The recovery was led by iron and steel, automobiles, cement, chemicals and pharmaceuticals companies.