Indian firms posted weak Q1 earnings despite solid GDP growth, with financials and IT under pressure amid slowing demand.

• Nifty 50 firms show just 7.5% profit growth; EPS estimates for MSCI India firms cut by 1.7% by Jefferies.
• Financials face shrinking margins, rising bad loans; IT grapples with weak U.S. demand, hitting top-line growth.
• Nominal GDP growth stays below 10%; revival hinges on credit growth, private capex, and rural consumption.