Profit squeeze clouds strong June-quarter revenue growth for India Inc

A Mint analysis of 393 companies' Q1 FY27 standalone results shows aggregate revenue grew 18 percent year-on-year, the fastest pace in three years, but expenditure climbed 26.5 percent, leaving profits broadly flat. Excluding financial firms, net profit fell nearly 20 percent as elevated crude oil and input costs linked to the West Asia conflict squeezed margins, hitting UltraTech Cement, Dr. Reddy's, Cipla and InterGlobe Aviation. Meanwhile, 83 BFSI companies posted a 25 percent net profit rise led by private banks ICICI Bank, Kotak Mahindra Bank and Axis Bank with 16-26 percent profit growth.