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Costs outpace revenues at Q3 early birds, hurting profits
Mint Kolkata
|January 21, 2026
and chief portfolio manager at OmniScience Capital, argued that the cost surge won't persist as a margin drag in the future.
“Managements have described it as a onetime payroll adjustment under the new labour laws, with IT and other labour-heavy sectors seeing the sharpest impact,” he said.
Companies saw a spike in employee costs after the new labour codes kicked in from November, requiring basic pay to account for at least 50% of total compensation. This pushed up contributions towards provident fund (PF), gratuity and other statutory benefits, triggering a onetime jump in past liabilities in Q3, experts said. Companies’ monthly payouts have also risen as PF and related benefits are now calculated on a higher basic salary.
This story is from the January 21, 2026 edition of Mint Kolkata.
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