Q1FY26 Earnings: A Story of Cost Cuts, Caution, and One Big Illusion

Profit Gains Without Growth Paint a Risky Picture

As of the date of this analysis, about 136 companies have reported their Q1FY26 results. While this is evidently a very small sample, it does provide a bird-eye view of how corporate India seems to have performed in the last 3 months.

And the picture is quite bleak. Here’s what stands out: