Barring banks, India Inc's showing in Q4 is encouraging

There is some benefit of a low base effect as earnings were down 4.6 per cent during the corresponding quarter in the last fiscal year after the note ban

The bad news from the 720 companies that have declared their March 2018 quarterly results so far is that net profit has dropped 34 per cent, which is the worst quarterly performance in at least three years. But the good news is that if financials and energy are removed, net profit growth is 15 per cent — the best since the September 2016 quarter. This should not come as a surprise because several public sector banks (PSBs) have posted record losses thanks to higher provisioning for non-performing assets (NPAs). With the revenue growth of the 720 companies at 13.9 per