Tuesday 28 January 2020
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business-standard - 2 month ago

Multiple headwinds play spoilsport on Q2 revenue growth of India Inc: ICRA

India Inc delivered an expectedly weak performance during the second quarter of the current financial year (Q2 FY2020), reeling under the impact of continued weakness in consumer sentiments and a general slowdown in the economy.An ICRA analysis financial results of 609 companies in the Indian corporate sector (excluding financial sector entities) showed a year-on-year and sequential contraction in revenues for the first time in almost four years with aggregate revenues contracting by 0.9 per cent year-on-year.During the same period, the EBITDA (earnings before interest, tax, depreciation and amortisation) margin contracted by 32 basis points on a year-on-year basis and by 100 basis points sequentially to 16.7 per cent.The major impact on revenues came from commodity-linked sectors, revenues from which contracted by 5 per cent year-on-year as well as sequential basis. Consumer sentiment too continued to remain muted as reflected in year-on-year contraction of 1 per cent in revenues ...

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