Profits from thin air!

A slew of hi profile and popular Indian companies have interesting financials.
Their profits fo up and up and their operating cash flows (CFO) go down and down and in several cases go from red to deep red.
Classic accounting scandals, when they werre uncovered and dissected showed this - the cash flow from operations were telling the investors all they need to know.If only they were willing to look at the right places, ie, the cash flow statements along with PNL and the balance sheet.