MUMBAI: Corporate earnings will continue to be subdued due to weak commodity prices, slow investment demand and sagging rural consumption, Crisil Research an arm of the rating agency Crisil said on Tuesday even as it warned that earnings estimates for both this fiscal and next will have to be reeuced due to slow growth.The agency expects corporate revenue to grow just 2% in the three months ended December 31, 2015, driven mainly by a low-base effect after a 5% growth in the corresponding quarter of last fiscal year.“Exclude sectors with topline linked to the commodity cycle (steel, petrochemicals and manmade fibres), and revenue growth would improve – but only by around 5.4,” the agency said adding that EBITDA – or earnings before interest, taxes, depreciation, and amortisation – growth is expected to improve by 180 basis points (bps) to 5.8% compared with 4% in the first half of the current fiscal.One basis point is 0.01 percentage point.Crisil Research analysed 600 companies excluding financials and oil & gas that account for 70% of the market capitalisation of the National Stock Exchange.“Sectors more focused on urban consumers such as automobiles, media, retail, and telecom are projected to post healthy double-digit topline growth. Mid-sized pharmaceutical companies are also expected to do well due to strong growth in exports to the US. But in general India Inc is grappling with poor demand sentiment. With lower input costs and intense competition, pricing has also been impacted,” Prasad Koparkar, senior director, Crisil Research was quoted as saying in the release.The rating agency said that though road projects are being executed its impact is yet to be seen in investment linked sectors because of overcapacity and weak demand in other end-use sectors such as real estate.Revenues of construction companies is expected to grow by around 4% year-on-year aided by faster execution of national highways, urban infrastructure and power (transmission & distribution) projects.