Corporate News
Companies make bumper profits in Q2 but perks enjoyed only by owners, not workers

Listed companies of India registered a sudden surge in profits amid the pandemic in Q2 FY21; however, the workers were not equally lucky to enjoy the perks. While the companies’ profits grew 21.9 per cent in the quarter ending-September 2020, wages grew by a mere 3.8 per cent, according to the Centre for Monitoring Indian Economy. Another comparison shows that while the growth in profits during this period was higher than in the top quartile of the distribution of profits growth over the past 60 quarters, it was lower than the bottom quartile of distribution for wages, CMIE added. The low single-digit growth in wages in the last two quarters is very low by historical standards and is in stark contrast to the extraordinary profits earned by the companies.

News Source:- https://www.financialexpress.com/industry/companies-make-bumper-profits-in-q2-but-perks-enjoyed-only-by-owners-not-workers-wage-growth/2133298/