India Inc's demand engine restarts in Q3, but margin tailwinds fade

India Inc’s Q3FY26 earnings benefited from strong festive demand, but margin-led profit expansion also lost steam. With costs rising and profits lagging revenues, the next phase of earnings growth will hinge less on margins and more on durable demand.

India Inc's demand engine restarts in Q3, but margin tailwinds fade
India Inc’s Q3FY26 earnings benefited from strong festive demand, but margin-led profit expansion also lost steam. With costs rising and profits lagging revenues, the next phase of earnings growth will hinge less on margins and more on durable demand.

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