Nifty 50: Which Sectors Recorded Highest and Lowest PAT in FY24?

NSE has ranked 10 sectors according to their net profits. Eight sectors have recorded positive growth in PAT, while profits of two sectors have contracted.

Nifty 50: Which sectors recorded highest and lowest PAT in fiscal 2024?

In the Nifty 50 index, 36 companies reported a year-on-year increase in profit after tax in fiscal 2024. (Image source: Freepik)

Nifty 50 is one of the most closely watched stock market indices in India. Recently, the NSE released a snapshot showing how PAT (profit after tax) grew for various sectors of companies in the index during fiscal 2024. The total PAT of all companies in the index stood at Rs 8.20 lakh crore, up 27%.

Consumer discretionary goods companies

The sector that saw the highest growth in net profit in the last fiscal year was consumer discretionary, which saw a 123.7% increase in PAT, which in absolute terms stood at Rs 76,519 crore.

Energy sector

Next in line was the power sector with a PAT growth of 37.4%. Cumulative net profit of power companies in Nifty 50 stood at Rs 1.96 lakh crore in fiscal 2024.

Financial services

The financial services sector, which grew the third highest at 30.6%, actually clocked the highest PAT in absolute terms at Rs 2.61 lakh crore. As per NSE data, the cumulative profits of the three sectors of financial services, energy and information technology accounted for 68.91% of the total net profits of all the Nifty 50 companies in fiscal 2024.

Industrial

The industrial sector also reported a 30.6% growth in net profit. The cumulative PAT of the sector stood at Rs 28,415 crore.

Healthcare

Healthcare companies in the Nifty 50 index posted a combined profit of Rs 22,510 crore, up 21.6%.

Tools

The total net profit of the utilities sector increased by 13.2% in the last financial year and stood at Rs 36,903 crore.

Information technology

IT companies’ profits fell significantly and stood at just 6.2%, recording a cumulative profit of Rs 1.07 lakh crore.

Basic necessities

At the bottom of the positive PAT pile were essential goods. These companies registered a combined PAT of Rs 37,446 crore.

Communication services and materials

Communication services and materials were the two sectors that saw a decline in PAT. While the net profit of communication services companies declined by 18.3%, the net profit of the materials sector declined by 7.8%. The cumulative net profit of the communication services sector stood at Rs 10,039 crore. The total net profit of materials companies stood at Rs 43,072 crore in fiscal 2024.