India’s aggregate Q2 FY25 earnings showed revenue of approximately ₹49.25 lakh crore, rising 9.3% year-on-year, while net profit surged to nearly ₹5.21 lakh crore , reflecting a substantial 35.7% annual increase. Analysts attribute the profit expansion to improved operating leverage, easing commodity prices and stronger performances across banking, manufacturing and large-cap IT companies. Despite small-cap volatility and pressure in riskier segments, the broader earnings cycle remains resilient, signaling healthy corporate fundamentals heading into the final quarter of FY25.