Q1 results: India Inc profit surges 65% but shows lopsided growth

The combined net sales of all companies in the sample were up just 7.3 per cent YoY in Q1FY24, the lowest in the past 10 quarters

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