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BFSI firms drive earnings of India Inc to a record high in Q4FY23

By comparison, their combined net sales (gross interest income for BFSI companies) were up 14.3 per cent YoY to Rs 33.2 trillion in Q4FY23, from Rs 29 trillion a year ago

The combined net profit of 20 cyclical companies in the index is expected to grow by 38.8 per cent YoY to Rs 1.01 trillion

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By comparison, their combined net sales (gross interest income for BFSI companies) were up 14.3 per cent YoY to Rs 33.2 trillion in Q4FY23, from Rs 29 trillion a year ago

Krishna Kant Mumbai

4 min read Last Updated : May 31 2023 | 9:45 PM IST

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The earnings of India Inc hit a record high in the 2022-23 (FY23) January–March quarter (fourth quarter, or Q4), compared with their poor showing in the previous two quarters of the financial year. The rise in earnings, however, is exclusively led by banking, financial services, and insurance (BFSI) companies.

A better-than-expected showing by banks and non-bank lenders in Q4FY23 more than compensated for the earnings contraction in the non-BFSI space. The companies in the non-BFSI space continue to struggle with a contraction in profits and a steady slowdown in revenue growth.

The combined net profit of all 2,938 companies in Business Standard’s

Topics : India Inc BFSI Q4 Results India Inc earnings

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