India Inc yet again disappointed stock investors, who were looking for a recovery in corporate earnings. They were often told a turnaround was around the corner, but it never materialised. And analysts say the trend may continue going forward, though the low-base effect may help in some cases. For at least eight years now, analysts and investors have been waiting for the much-awaited earnings recovery. While greenshoots did show up on occasions, they did not last long enough to turn into a structural recovery, and the quarter that went by was no different. Nifty companies reported a 2 per cent year-on-year(YoY) drop in sales, while earnings before interest, tax, depreciation and amortization (EBITDA)/profit before tax (PBT)/ profit after tax (PAT) increased 11 per cent/4 per cent/9 per cent year on year.