India Inc may see over 22% profit jump in Q1; revenue growth may disappoint

Automakers, banks likely top performers

Brokerages expect Nifty50 companies to have cumulatively witnessed strong double-digit growth in their earnings in the first quarter of FY24 (Q1FY24). This growth in the combined earnings is expected to have been driven by banks, automakers, and oil & gas companies. Other sectors may report muted profit growth.
 

According to brokerage estimates, Nifty50 companies — excluding Adani Enterprises (for which earnings estimates are not available) — are expected to report a combined net profit of Rs 1.71 trillion for Q1FY24, up 22.4 per cent year-on-year (YoY) from Rs 1.4 trillion.
 

The index companies’ expected net profit could be 2.2 per