Performance is assessed from various angles and by different users from their own point of view but a financial analyst is judge the performance from profitability and growth point of view. In corporate sector, the shareholders are interested in profitability where as there management is interested in the growth of the company. Therefore both of these dimension, viz. profitability and growth should be considered while analysing performance of the company. This paper tries to find out the various factors, which determine the corporate profitability and growth in India. Although return on equity, return on assets, return on investment, growth in sales, growth in dividend and growth in net assets or net worth, etc. are the major determinants of the corporate performance in India. In this paper we also shows the major factors, which are responsible for lower profitability or performance in India are corporate taxation, technology, mix of product changes, volume of fluctuation and changes in costs.