Sector analysis · India
Services sector earnings growth, Q1 FY25
The 20 largest Services companies by market cap at the end of Q1 FY25 (30 Jun 2024), compared with Q1 FY24.
The top 20 at Q1 FY25
Q1 FY25 vs Q1 FY24: combined net profit ₹8,367 cr (+15%), median EPS +5% (12 of 18 up), market-cap-weighted price +60%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Adani Ports | 37.1% | 9.79 → 14.41 | +47% | +13.2 pp | +100% |
| 2 | InterGlobe Aviation Limited | 19.0% | 80.16 → 70.70 | −12% | −4.8 pp | +61% |
| 3 | JSW Infrast | 8.0% | 1.72 → 1.39 | −19% | −0.4 pp | — |
| 4 | Container Corporation of India Limited | 7.4% | 3.22 → 3.39 | +5% | +0.2 pp | +58% |
| 5 | GMR Airports Limited | 6.8% | −0.05 → −0.23 | loss, bigger | −1.5 pp | +121% |
| 6 | Delhivery Limited | 3.4% | −1.22 → 0.74 | turned profitable | +1.9 pp | +5% |
| 7 | Blue Dart Express Limited | 2.2% | 25.83 → 22.51 | −13% | −0.1 pp | +10% |
| 8 | The Great Eastern Shipping Company Limited | 2.0% | 40.36 → 56.87 | +41% | +3.1 pp | +65% |
| 9 | Redington Limited | 1.9% | 3.18 → 3.15 | −1% | 0.0 pp | +15% |
| 10 | Firstsource Solutions Limited | 1.7% | 1.81 → 1.94 | +7% | +0.1 pp | +65% |
| 11 | eClerx Services Limited | 1.4% | 10.84 → 11.38 | +5% | +0.1 pp | +49% |
| 12 | MMTC Limited | 1.4% | 0.10 → 0.30 | +200% | +0.4 pp | +150% |
| 13 | S C I | 1.4% | 3.68 → 6.26 | +70% | +1.6 pp | +150% |
| 14 | Gujarat Pipavav Port Limited | 1.2% | 1.40 → 2.27 | +62% | +0.6 pp | +70% |
| 15 | Quess Corp | 1.0% | — → 7.52 | sources disagree | — | +34% |
| 16 | CMS Info Systems Limited | 0.9% | 5.46 → 5.58 | +2% | +0.1 pp | +39% |
| 17 | TVS Supply | 0.9% | −1.50 → 0.15 | turned profitable | +1.0 pp | — |
| 18 | Transport Corporation of India Limited | 0.8% | 10.60 → 11.71 | +10% | +0.1 pp | +26% |
| 19 | Nesco Limited | 0.8% | 10.80 → 9.90 | −8% | −0.1 pp | +46% |
| 20 | MSTC | 0.7% | — → 8.79 | sources disagree | — | +147% |
| Sector earnings growth | 100% | +15.4 pp |
Who joined and who left
1 joined and 1 left the top 20 since Q4 FY24, as market caps moved.
Joined the top 20 since Q4 FY24
Left the top 20 since Q4 FY24
- Allcargo Logistics Limited
EPS growth by company, Q2 FY24 to Q1 FY27
Each company's EPS growth year on year, every quarter it was in the top 20.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ADANIPORTS | +2% | +68% | +76% | +47% | +40% | +14% | +48% | +6% | +27% | +14% | +4% | +2% |
| INDIGO | turned profitable | +110% | +106% | −12% | to loss | −18% | +62% | −20% | loss, bigger | −78% | to loss | to loss |
| JSWINFRA | outside | sources disagree | −2% | −19% | +45% | +32% | +55% | +32% | −3% | +9% | −18% | −19% |
| CONCOR | +21% | +12% | +14% | +5% | 0% | +11% | −6% | +3% | +4% | −9% | −12% | 0% |
| GMRAIRPORT | to loss | to loss | loss, smaller | loss, bigger | loss, bigger | turned profitable | loss, bigger | loss, smaller | loss, smaller | −52% | turned profitable | turned profitable |
| DELHIVERY | loss, smaller | turned profitable | loss, smaller | turned profitable | turned profitable | +113% | turned profitable | +65% | to loss | +56% | 0% | −65% |
| BLUEDART | −22% | 0% | +12% | −13% | −14% | −9% | −29% | −9% | +30% | −16% | −11% | +81% |
| GESHIP | −23% | −14% | +25% | +41% | −3% | +10% | −60% | −38% | +1% | +37% | +188% | +159% |
| REDINGTON | −22% | −10% | +5% | −1% | −3% | +17% | +105% | +12% | +32% | +9% | −41% | +77% |
| FSL | −2% | −19% | −5% | +7% | +9% | +24% | +20% | +25% | +30% | −25% | +27% | −2% |
| ECLERX | +12% | +9% | −2% | +5% | +6% | +2% | +20% | +31% | +31% | +40% | +26% | +17% |
| MMTC | −97% | −43% | +571% | +200% | −9% | −95% | −96% | 0% | +256% | +1,450% | +4,100% | +130% |
| SCI | −47% | −52% | −19% | +70% | +344% | −44% | −40% | +21% | −35% | +436% | +119% | +75% |
| GPPL | +28% | +38% | −32% | +62% | −18% | −14% | +71% | −5% | +113% | +8% | +27% | outside |
| QUESS | +71% | −28% | +185% | sources disagree | sources disagree | sources disagree | to loss | outside | outside | outside | outside | outside |
| CMSINFO | +14% | outside | +8% | +2% | +3% | +2% | +6% | +2% | outside | outside | outside | outside |
| TVSSCS | to loss | −50% | turned profitable | turned profitable | turned profitable | to loss | outside | +967% | outside | outside | outside | outside |
| TCI | +20% | −9% | +25% | +10% | +24% | +29% | +14% | +19% | +6% | +14% | +9% | outside |
| NESCO | outside | +34% | outside | −8% | +22% | outside | −16% | +38% | +11% | −5% | +5% | +4% |
| MSTCLTD | outside | outside | −37% | sources disagree | outside | outside | outside | outside | outside | outside | outside | outside |