Aggregate revenues of a sample set of 838 listed companies grew 22 per cent in the June quarter, higher than 13 per cent YoY growth recorded in the March quarter, reflecting earnings resilience of India Inc offsetting weakness in the oil sector.
However, aggregate Operating Profit Margin (OPM) contracted by over 200 basis points (bps) YoY in the first quarter of 2026-27 and net profits were flattish mainly because of the oil-refining sector, where elevated crude prices and under-recoveries on LPG and petroleum products weighed on profitability.
Excluding oil & gas, OPM was stable at 19 per cent and net profits grew by over 20 per cent YoY, ICRA said.
“ICRA’s review of the results announced so far suggests that India Inc. began 2026-27 on a firmer footing than anticipated, with aggregate revenues of ICRA’s sample set of 838 listed companies growing by 22 per cent YoY in Q1, accelerating from the 13 per cent YoY growth reported in the preceding quarter,” the domestic rating agency ..
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