India Inc sees 1st earnings upgrade in 5 quarters
For the first time in over a year, India's top companies have finally seen their earnings estimates go up instead of down.
After four straight quarters of cuts, mid-cap firms led the way with upgrades, though small-caps didn't fare as well and actually saw profits trimmed.
Some sectors are winning big—others, not so much
Telecom and oil & gas had a great run this quarter, with profit forecasts jumping by 30% and 13% respectively. Public sector banks also got a nice bump.
On the flip side, utilities and auto companies took a hit—especially Tata Motors, which dragged down auto sector estimates.
Strong results spark optimism for next year
Corporate profits are expected to jump up to 16% next year—the strongest outlook since upgrades began after a gap of five quarters—with revenues also rising nicely.
Motilal Oswal analysts now expect even stronger profit growth into FY26 and FY27 (up to 16%), especially for big names like Bharti Airtel, ICICI Bank, and Infosys.
They're betting on finance, tech, autos, and telecom to keep leading the pack.