Muted consumption, delay in revival of the investment cycle and fall in global commodity prices will weigh on corporate India’s Q1 results. Some of the initial results do not look very encouraging and the markets will look at the direction the management gives rather than the numbers they declare. While Kotak Institutional Equities expects the net income of the Sensex companies to grow 1.2% y-o-y, BoFA ML, in its preview, has said profit growth of these companies would be just 0.3% y-o-y on a consolidated basis.