Citi's Surendra Goyal warns $100 crude could hit Indian profits
Business
Citi's Surendra Goyal is sounding the alarm: Indian companies might see their earnings take a hit thanks to rising oil prices, a weaker rupee, and possible El Nino disruptions.
If crude stays above $100 a barrel, he warns the pressure on profits could be significant in the near future.
Citi's Goyal: IT under AI stress
Goyal also points out that India's IT sector is under stress, not just from global competition, but also from AI tools like OpenAI and Claude shaking things up.
Even though Q4 earnings were broadly in line, with around 9% EBITDA growth, he says the next results will really show how these changes are impacting tech companies.