India Inc profit surges 65% but shows lopsided growth

There has been a sharp recovery in the headline corporate earnings in the April-June 2023 quarter (Q1FY24), after a dismal showing by early bird companies. The combined net profit of the 983 listed companies that have declared their quarterly results, so far, was up 64.7 per cent year-on-year to record a high of Rs 2.68 trillion in the first quarter, but growth in earnings remained lopsided because most of the incremental gains came from a handful of companies.

Moreover, the quarterly numbers showed a continued slowdown in revenue growth. The combined net sales of all companies in the sample were up just 7.3 per