New Delhi, Nov. 19 -- Rural India fell short of growth expectations in the September-quarter with BFSI companies the main drag on earnings as tepid farm income, sluggish credit growth and an uneven consumption recovery weighed on its momentum, a Mint analysis showed.

Earnings of 73 Nifty Rural Index companies - whose business models are closely tied to India's hinterland - revealed that their aggregate revenue growth hit an eight-quarter low of 2.8% year-on-year in Q2 of FY26.

For the first time in two years, rural-linked toplines grew slower than the rest of India Inc, which posted a 6% revenue expansion over the same period. The reversal is significant because companies catering to rural markets have consistently outpaced the broader ...