Corporate India posted robust revenue increases during the March 2026 quarter. However, rising input costs and a weaker rupee pressured operating margins across many companies.
Sectors such as automobiles and banking recorded solid growth. In contrast, cement and oil companies encountered notable difficulties amid the same period.
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Provisional GDP estimates released on Friday show 7.7 per cent growth for 2025-26. The figure exceeds the government's February prediction by 0.1 percentage points. Outlook for 2026-27 points to a slowdown.
Nifty 50 firms expect double-digit revenue growth for the June 2026 quarter but project only single-digit profit increases due to rising costs. Input cost inflation and higher crude prices are squeezing margins across sectors.
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India's listed brokers and exchanges posted strong results for the March quarter. Growth came from higher margin trading and increased market activity.
Gokaldas Exports achieved strong sequential growth in both revenue and profit for the March quarter. The company posted a 9% rise in revenue despite ongoing global trade disruptions and US tariff pressures.
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Tata Consultancy Services posted flat dollar revenue for the June quarter along with margin contraction. AI revenue grew but stayed a small share of total earnings. The company also paid out large dividends.
Indian pharmaceutical companies Dr Reddy's and Cipla reported weaker results for the June quarter due to falling profits in the US market. Their domestic operations performed better and provided some offset. Analysts lowered earnings estimates for future years as a result.
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Twenty-three companies in India's BSE 100 index have delivered weak annual returns over the past three years. Many of these stocks now trade below their historical valuations. The underperformance is concentrated in consumer, IT and BFSI sectors.