Q2 earnings grow 14 pc led by midcaps, oil and gas companies: Report

NEW DELHI: Earnings of India Inc that have released quarterly results so far, grew around 14 per cent year‑on‑year in Q2 FY26, driven largely by oil and gas, technology, cement, capital goods and metals, a report said on Wednesday.

The report from brokerage firm Motilal Oswal Financial Services Limited said that market cap wise, mid‑caps led with 26 per cent while large‑caps posted 13 per cent growth, and small‑caps lagged, weighed down by private banks, non-lending NBFCs, technology, retail and media posting an earnings decline.

MOFSL’s 151‑company universe, excluding global commodity movers, posted 6 per cent earnings growth versus its estimate of 2 per cent, while ex‑financials earnings grew 25 per cent.

Five sectors accounted for 86 per cent of the incremental year‑on‑year earnings accretion, the report noted. Earnings of the 27 Nifty companies that have declared results so far have grown 5 per cent.