The lockdown imposed due to the Covid-19 pandemic has hurt corporate earnings for the January-March 2020 quarter (Q4FY20). Combined revenues of 410 companies, which have declared their results, were down 6 per cent on a year-on-year (YoY) basis during Q4, while their profit before tax (PBT) was down 35 per cent YoY.
India Inc lost seven days during the quarter as the lockdown came in force on March 25. The cut in corporation income tax cushioned the blow a bit and net profit after tax was down 32.3 per cent YoY during Q4. This is the worst financial performance by corporate ...
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First Published: Sun, June 07 2020. 18:59 IST
