India Inc earnings see sharp slowdown in FY23; non-BFSI profits contract

Better than expected showing by BFSI

Leaving out the better than expected showing by banks, financial services and insurance (BFSI) companies, there was a sharp deceleration in corporate earnings in FY23.

The combined net profit growth of a common sample of 907 key listed companies that are part of the BSE500, BSE Mid-Cap and BSE Small Cap indices was just 4.6 per cent year-on-year in FY23, a sharp deceleration from the 60.4 per cent in FY22 and 89.7 per cent in FY21.

These companies reported combined net profits of Rs 9.94 trillion in FY23, up from the Rs 9.5 trillion a year ago and Rs 5.93 trillion in