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Covid-19 lockdown: 70% listed firms may dip into reserves for April pay

This will make it tough for many of them to service their fixed costs, such salary and wages, as well as interest on their loan.

Topics
Coronavirus | Indian companies | Lockdown

Krishna Kant & Dev Chatterjee  |  Mumbai 

As the Covid-19 lockdown in India enters the second month, nearly 70 per cent of the listed companies are now facing the prospects of little or no revenues during April 2020. This will make it tough for many of them to service their fixed costs, such salary and wages, as well as interest on their loan.

In these 1,565 companies, which are in the non-essential category, there are nearly 3 million full-time employees on their rolls at the end of March 2019 with a monthly salary bill of around Rs 31,000 crore during the first nine months of FY20. Also, these companies had monthly ...

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First Published: Fri, May 01 2020. 22:25 IST
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