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Indian Q1 Earnings Season Shows Banking Recovery and Sectoral Divergence

Record PSU bank earnings reflect improved credit trends with auto firms facing margin pressures

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NBCC India Interim Dividend Announced
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Titan

Overview

  • Public sector banks posted a combined Rs 44,218 crore profit in Q1 FY26, led by State Bank of India’s 12.48% net profit rise to Rs 19,160 crore on stronger operating income and asset quality improvements.
  • Tata Motors’ consolidated net profit fell 30.5% to Rs 3,924 crore as weaker margins and a 2.8% drop in revenue weighed on its Q1 performance.
  • BSE Ltd delivered a 103.5% surge in net profit to Rs 539.41 crore and a 59.2% jump in revenue, driven by robust trading volumes and expanded market services.
  • Life Insurance Corporation of India’s Q1 profit grew 4.11% to Rs 10,985 crore, supported by a 150-basis-point rise in new business margins, while Bajaj Holdings & Investment doubled its earnings to Rs 3,487 crore through strategic stake investments.
  • Bajaj Auto reported a 5.4% net profit increase to Rs 2,095.98 crore as export growth and electric vehicle volumes offset a dip in EBITDA margins below 20% for the first time in seven quarters.