Revenue from operations

The top line of an Indian statement of profit and loss: income from the company's business, made up of sale of products, sale of services and other operating revenue. Income from investing surplus cash goes to other income on the next line, which is why the two are read separately.

Scrap sales and export incentives often end up in other operating revenue, along with similar trading-related items, and the line can be large enough to matter. A manufacturer reporting ₹4,800 crore of revenue from operations, made up of ₹4,560 crore of products, ₹130 crore of services and ₹110 crore of other operating revenue, gets 2.3% of its top line from that last bucket. If the ₹110 crore is an incentive scheme due to expire, revenue loses 2.3% the year it lapses before anything else changes.

Goods and services tax collected from customers is excluded, because it's passed on to the government. Indian statements from before July 2017 included excise duty in revenue and deducted it lower down, so check the definition before running a ten-year growth series.

Split the top line before projecting it.