Indian companies posted a surprise earnings beat for the three months ended March, as domestic activity hummed along boosted by consumption tax cuts and easy monetary policy, but the Iran war-led energy shock is expected to weigh on profitability.
As Indian markets slip to seventh place in market value rankings amid a record foreign fund exodus, analysts warn that elevated oil prices and supply chain disruptions linked to the three-month-long Iran war threaten to derail the fragile recovery in corporate earnings.
