Slowdown hits revenue,profits: Crisil

The poor operating performance,coupled with high interest rates and forex hedging losses,has resulted in a 13.6 per cent de-growth in net profits,it said.

Economic growth has slumped to a nine year low of 6.5 per cent in the 2011-12 fiscal,mainly on back of poor performance of manufacturing sector.

The continuing weak demand environment is resulting in tepid revenue growth of close to 14.3 per cent y-o-y excluding refining and marketing companies,it said.

It also said that revenue growth for consumption-driven sectors like retail and two-wheelers has also slowed down on account of weak consumer sentiment.