Business Standard

Covid-19 impact: Six of the top 10 family-owned businesses in the red

Leading business houses report pre-tax loss of Rs 19,342 crore in Q4

Coronavirus, markets, companies, loss
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Their combined revenues including other income stood at Rs 5.03 trillion in Q4FY20, as against Rs 5.56 trillion in Q4FY19 and Rs 5.4 trillion in the third quarter.

Krishna KantDev Chatterjee Mumbai
Top family-owned business houses were badly hit in the January-March 2020 quarter, especially those with large exposures to telecom and commodity businesses such as oil, gas, metal, and mining.
 
The fourth quarter saw six of India’s 10 largest family-owned groups (in terms of revenues) reporting pre-tax losses at group level. The combined revenues, too, were down 9.5 per cent year-on-year (YoY), one of their worst performances in many years.
 
Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax (PBT) of around Rs

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