A wave of Indian companies released April–June earnings this week, offering a snapshot of uneven demand and cost trends across sectors. State-run refiner Bharat Petroleum Corp. Ltd. led the pack, posting a standalone net profit of ₹61.24 billion ($700 million) as lower input costs offset a flat top line. Revenue inched up 1.2 % to ₹1.30 trillion while expenses fell 2 %, allowing BPCL to beat analysts’ profit expectations even as its average gross refining margin narrowed to $4.88 a barrel from $7.86 a year earlier. Upstream peer Oil & Natural Gas Corp. reported a sequential profit increase of 24 % to ₹80.24 billion, though revenue slipped 8.5 % to ₹320 billion. Oil India Ltd. felt the sting of weaker crude prices and lower liftings, with profit halving to ₹8.14 billion and EBITDA margin dropping to 32 %. Outside energy, results were mixed. Cable maker Finolex Cables saw profit slide 33 % year-on-year despite a 13 % rise in revenue, while pharmaceutical firm Granules India’s profit fell 16 % as higher raw-material costs thinned margins. Agro-chemicals group Insecticides India bucked the trend with a 17 % profit increase on modest revenue growth. Consumer-facing names held up better. IRCTC, which runs catering and ticketing for Indian Railways, delivered a 7 % profit gain and kept margins above 34 %. Quick-service restaurant operator Jubilant Foodworks lifted profit almost 30 % on an 18 % sales jump, though margins were flat. Big-box retailer Vishal Mega Mart expanded profit 37 % as revenue rose 21 %. Among industrials, auto-parts supplier Samvardhana Motherson’s earnings fell nearly 50 % even as sales grew, indicating margin pressure. Engineering firm Endurance Technologies and lighting maker Surya Roshni reported double-digit revenue swings in opposite directions, with the former growing 18 % and the latter contracting 15 %. Healthcare outlier Shilpa Medicare more than tripled profit to ₹469 million on stronger sales of high-value formulations and contract-development deals, while Pfizer’s Indian unit boosted profit 27 % on a 7 % revenue lift. Taken together, the latest batch of results underscores a bifurcation in India Inc.: energy refiners are benefiting from cost discipline and resilient demand, select consumer and healthcare companies are still expanding, but several exporters and capital-goods makers face shrinking margins as input prices and global demand remain volatile.