Analysts said that consumption is likely to slow down in March due to demonetisation and high base last year
Economists believe that the key reason behind such a high growth rate could be "a steep downward revision" of the year-ago base period
According to the global financial services major, activity data across manufacturing and services as well as consumption and investment have clearly taken a hit after 8 November, 2016, when the government announced scrapping old 500/1,000 rupee notes.
ICICI Bank registered a sharp increase in its gross non-performing assets (GNPAs) to 4.72 per cent of total loans in the quarter as compared with 3.77 per cent in the preceding quarter and the 3.40 per cent in the year-ago quarter.
Country's largest carmaker Maruti Suzuki India today reported a 27.1 per cent jump in net profit at Rs 1,019.3 crore for the third quarter ended December 2015, driven by robust sales, cost reduction initiatives and favourable foreign exchange.
HDFC Bank today reported 20.1 per cent growth in net profit to Rs 3,356.8 crore for the third quarter of the current fiscal on higher interest income.