New Delhi, April 28 -- Trump's rhetoric on tariffs may have sent ripples across global markets amid geopolitical uncertainties, but the Q4 earnings season for India Inc. managed to generate its usual dose of surprises. The recurring narratives of business turnarounds-a delicate balance between "happy landings" and "unhappy landings"-took an ugly turn this time.

In a startling reversal of profits, the final quarter of fiscal year 2024-25 shows an alarming surge in companies plunging from profitability into losses. A Mint analysis of 184 BSE-listed companies shows that over 9% of the companies experienced a profit reversal, swinging from positive earnings in the preceding quarter to losses in the March quarter, marking the fiscal year's mo...