Business Standard

Growth moderation

Lower commodity prices can help protect margins

Q1 results, Q1 earnings
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Illustration: Ajay Mohanty

Business Standard Editorial Comment Mumbai

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Corporate results for the April-June quarter of 2023-24 (Q1FY24) suggest a moderation in revenue and profit growth. Corporate revenues and profits have tapered off compared to the previous quarter (Q4FY23), though there has been impressive year-on-year (Y-o-Y ) growth. Most of the profit growth is contributed by banks, non-banking financial companies (NBFCs) and refineries. There has been a sharp moderation in crude oil and gas prices compared to a year ago, when fears of supply disruption due to the Ukraine war had led to a spike. Lower energy prices boosted profits for refiners. Refineries have doubled profits on a Y-o-Y

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First Published: Jul 30 2023 | 10:00 PM IST

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