Behind strong Q2 show, a shallow recovery

India Inc’s September-quarter print was shaped by small- and mid-cap outperformance, and sector-specific boosts for oil marketing companies, cement and consumption niches rather than a broad-based demand upturn.

- Abhinaba Saha

India Inc’s September-quarter print was shaped by smalland mid-cap outperformance, and sector-specific boosts for oil marketing companies, cement and consumption niches rather than a broad-based demand upturn.

A benign statistical base and strong non-core income turned healthy operational growth into the strongest net-profit results in nine quarters, Mint’s analysis showed.

An analysis of 3,906 listed companies that had reported earnings as of 19 November revealed that India Inc’s aggregate total income rose 7.5% year-on-year in the September quarter. This was the strongest revenue print in four quarters, while net profit jumped 34%, the highest since the second quarter of fiscal year 2024 (Q2 FY24).