Q2 earnings season may be a muted affair for India Inc

Investors should brace for another quarter of muted revenue and earnings growth from India's leading listed companies.

- KRISHNA KANT

Earnings estimates for the Nifty 50 companies, compiled by various equity agencies, suggest corporate revenue grew in single digits for a 10th consecutive quarter during July-September (Q2FY26). Net profit growth, too, was likely in single digits for a sixth straight quarter.

Banks are expected to come out as the biggest laggards, with most of them likely to report year-on-year declines in net profit and flat to negative growth in net interest income.

Their performance would weigh on overall earnings, as banks account for nearly a third of total corporate profits.

At the other end of the spectrum, telecom operators such as Bharti Airtel and Reliance Jio (consolidated with Reliance Industries) and steel producers, including Tata Steel and JSW, are expected to drive most of the incremental year-on-year growth in earnings in Q2FY26.