Company profits in Australia have continued to rise in the first three months of 2017, with the gains probably coming at the expense of wage growth and investments.

Gross operating profits rose 6 per cent in the March quarter, on a seasonally adjusted basis, data from the Australian Bureau of Statistics shows.

Profits jumped by 39.7 per cent over the 12-month period to March.

The quarterly rise was led by a 13 per cent increase in mining company profits on the back of a strong run in coal and iron-ore prices at the time.

Retail trade profits also rose, by a healthy 4.9 per cent.

However, profits in the wholesale trade and the accommodation and food services sectors were down 5.8 per cent and 8.9 per cent, respectively.

Estimated growth in wages and salaries was 0.3 per cent for the quarter and 0.9 per cent for the year, according to the ABS' seasonally adjusted figures.

Estimated business inventories, in seasonally adjusted chain volume terms, rose 1.2 per cent in the March quarter, and were up 2.5 per cent over the year.

The business indicators come ahead of the March quarter's gross domestic product figures, due out on Wednesday, with some economists expecting a weak result as soft consumer spending holds back activity.

The Australian dollar was trading higher after Monday's data release.

By 1235 AEST, the local currency was at 74.54 US cents, compared with 74.33 just before the release.

AAP