Mumbai, July 10 (TIWN) Covid's second wave along with regional lockdowns are expected to dampen the Q1FY22 earnings result season, thereby, unleashing volatility.

Other factors such as high commodity and fuel prices along with impact of rural Covid spread on the FMCG demand will exert pressure on Q1 revenues.  In contrast, pharma companies could benefit due to the second Covid wave, besides, metals, BFSI and IT are expected to drive earnings’ growth in Q1FY22.  Furthermore, in Q1FY22, Indian corporates have the benefit of a low base, while during Q1FY21 the aggregate net sales of most companies had fallen sharply and their net profits had plunged.