Inventory stockpiling, tax cuts help companies achieve surprise increase
India's auto companies recorded some of the strongest revenue growth in the April-June quarter, with demand lifted by both personal income and goods and services tax cuts last year, according to an ICRA report. © Getty Images
BENGALURU — India's top 500 companies delivered their strongest earnings growth in three years in the quarter ended June, as resilient domestic demand and inventory stockpiling mitigated the impact of a sharp rise in energy prices and supply disruptions caused by the U.S.-Israel war on Iran.