New Delhi, July 30 -- Indian companies are expected to report modest 4-6% year-on-year revenue growth in the current earnings season. Compared to the7% growth reported in the last two quarters, persistent geopolitical conflicts and an early onset of monsoon are likely to have weighed on growth, according to a Crisil report.

Of course, some companies are likely to beat the trend. But it will be important to separate the wheat from the chaff. Not all revenue growth or profit expansion should be considered cues to buy. Some businesses could appear promising on the outside, but a deeper look would raise eyebrows. Specifically, investors could keep an eye out for growth in operating revenues and profits, while growth driven by one-off or exce...