India Inc generated strong cash flows in FY24, with cash and bank balances shooting up 18% to nearly Rs 10 trillion, the fastest pace in four years. A universe of 1,350 large companies for which comparative data is available, generated operating cash flows of nearly Rs 15 trillion. This is in sync with the strong increase in corporate profits last year, driven partly by a jump in other income. For a sample of 2,345 companies (excluding banks and financials) net profits were up a sharp 32%. Among the sectors that generated high operating cash flows last year were refineries, power generation and distribution, software services and telecom services.