Q1 profit jumps 18% for Nifty 50, best in 10 quarters

Indian corporate earnings for the June quarter posted their strongest growth in 10 quarters, with Nifty 50 companies reporting an 18 per cent year-on-year rise in profit after tax, according to Motilal Oswal Financial Services. ONGC, Hindalco, Reliance Industries, JSW Steel, and Bharti Airtel drove 60 per cent of the increase. Mid-cap and small-cap firms saw PAT rise 23 per cent and 31 per cent, respectively. The FY27 Nifty EPS estimate has been revised up 0.6 per cent to Rs 1,232.

Despite the earnings beat, markets ended lower on Monday. The Sensex fell 0.36 per cent to 77,728.16, and the Nifty lost 0.32 per cent to 24,287.65, extending losses for a fifth session. The Hindu Businessline reports that surging crude oil above $89 a barrel, a weakening rupee at 95.59 against the dollar, and geopolitical concerns weighed on sentiment. Voltas, despite a 51 per cent PAT jump to Rs 213 crore, saw its shares fall as the market priced in perfection.

Among individual results announced on August 14, Ashok Leyland posted a standalone PAT of Rs 609.11 crore, Bharat Dynamics PAT rose to Rs 118.79 crore, and 3M India PAT climbed 31.1 per cent to Rs 233.07 crore. Natco Pharma saw an 84 per cent decline to Rs 74.6 crore, and Alkem Laboratories PAT fell 22 per cent to Rs 520.98 crore. PhysicsWallah narrowed its net loss to Rs 77.6 crore on revenue of Rs 1,054 crore. The US Federal Reserve's July meeting minutes and crude prices will be watched this week.