Top 50 Indian companies post 18% June quarter profit growth
Business
India's top 50 companies just posted their biggest profit growth in 10 quarters, up 18% for the June quarter.
Even with rising costs, most sectors delivered strong earnings, and analysts say the overall outlook for the year is positive.
Motilal Oswal calls quarter picture perfect
Motilal Oswal called it a "picture perfect" quarter, crediting festive shopping, GST-driven spending, more loans, and higher investments.
Big names like Reliance Industries, Hindalco, and Bharti Airtel stood out. Banks and nonbank lenders did especially well thanks to solid loan growth and low credit costs.
Retailers and consumer brands held up strong too, though oil marketing companies struggled, with elevated crude prices overwhelming strong refining margins.