Ratings agency ICRA said India’s corporate earnings cycle kicked off FY27 on a stronger-than-expected note, with aggregate revenues of 838 listed companies in its sample growing 22% year-on-year in Q1.
This is sharply higher than the 13% YoY growth reported in Q4 of FY26. ICRA said this was driven by commodity and bullion price-led value inflation, demand lift from the GST rate cuts last year that continued to spur the automobile sector, and resilient overall consumption volumes, despite the West Asia flare-up and El Niño worries.
