Telecom to oil firms: Q2 results give no clear sign of broad revival

The economy is on the mend but sustained recovery will take time: that's the picture you get by studying the July-September quarter results of 1,286 listed companies. Devangshu Datta reads the numbers

There are signs of revival in corporate performance during the July-September quarter of the financial year 2020-21 (Q2 FY21). Economic activity was led by rural performance, which was backed by agro-growth. A sample of 1,286 listed companies (with minimum sales of Rs 1 crore) that announced their financial performance for the quarter under review till November 10 shows improvement year-on-year (YoY), compared to the corresponding quarter of 2019.

There are many extraordinary results, but must be adjusted for a valid comparison. Notably, telecom service providers Vodafone Idea and Bharti Airtel reported record losses in 2019-20 (FY20) due to the impact