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Q1FY24 results: Revenue growth of early birds at a 10-quarter low

India Inc more dependent on BFSI, IT companies to drive growth

q1 results, earnings, companies, india inc, corporate

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Illustration: Ajay Mohanty

Krishna Kant Mumbai

4 min read Last Updated : Jul 23 2023 | 11:04 PM IST

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The Q1FY24 earnings season has started on a dismal note for corporate India.

The early-bird companies’ revenue growth has been at a 10-quarter low, while the combined earnings of non-BFSI (banking, financial services, and insurance) companies seem to have hit the ceiling. The numbers suggest corporate India is entirely dependent on BFSI companies and the IT services sector to drive growth in revenue and profit while other sectors are showing signs of stagnation.

BFSI and IT were the only sectors that reported earnings growth in the first quarter. The 220 early-bird companies in the Business Standard sample accounted for nearly

Topics : Q1 results IT companies BFSI

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