Earnings Season

Earnings season refers to the period each quarter when the majority of listed companies announce their financial results for the preceding quarter. In India, the four earnings seasons correspond to the quarterly result disclosure requirements mandated by SEBI — Q1 results (April to June) are typically announced in July and August, Q2 results (July to September) in October and November, Q3 results (October to December) in January and February, and Q4/full-year results (January to March) in April and May. Earnings seasons are characterised by heightened stock-specific volatility as markets react to revenue, net profit, EBITDA, and guidance figures relative to analyst estimates. Strong earnings beats typically trigger sharp price appreciation, while misses lead to sell-offs. For Indian investors, earnings season is also the most active period for corporate actions including dividend announcements and management commentary on sectoral outlook.