A recent report by the State Bank of India (SBI) reveals that around 4,000 listed Indian companies experienced a 6 per cent growth in revenue or gross sales during the financial year 2024. While the revenue growth was relatively moderate, key financial indicators, such as earnings before interest, taxes, depreciation, and amortization (EBIDTA) and profit after tax (PAT), showed robust increases of 28 per cent and 32 per cent, respectively.

The SBI report noted that the top-line revenue growth was accompanied by a significant rise in both EBIDTA and PAT. However, the report also highlighted a noticeable slowdown in the growth of employee expenses. Employee costs rose by just 13 per cent in FY24, a considerable dip from the 17 per cent increase recorded in the previous year (FY23). This moderation in wage growth suggests that companies have been focused on managing their wage bills more efficiently while ensuring continued profitability.