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The more things change, the more they remain the same for corporate India. In the April-June 2025 period (Q1FY26) — for the ninth consecutive quarter — listed companies witnessed only single-digit revenue growth, while their core earnings, excluding other income and one-time gains, contracted for the second time in four quarters. This comes as firms brace for the impact of 50 per cent US tariff on Indian goods.
The weakness was broad-based in Q1FY26, with the exception of energy-intensive commodity producers such as steelmakers, cement firms, and oil-marketing companies. Benefiting from lower energy costs, they managed double-digit profit growth despite
