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India Inc may see 15% fall in profits in FY21, 10% revenue decline: Crisil

At present, the country is under a 40-day lockdown till May 3, and there are indications of it being gradually withdrawn.

India Inc may see 15% fall in profits in FY21, 10% revenue decline: Crisil
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Crisil's chief economist Dharmakirti Joshi said up to 4 per cent of the GDP will be lost permanently as a result of the crisis, which will lead to scores getting unemployed.

Press Trust of India
India Inc is staring at a bleak and forgettable fiscal year FY21, which is likely to see a 10 per cent fall in revenues and at least 15 per cent erosion in profits due to the COVID-19 pandemic, domestic ratings agency Crisil said on Thursday.
Loan servicing can become difficult as a result of the troubles, its research wing said, estimating banks' non-performing assets (NPAs) to rise by up to 2 percentage points to 11.5 per cent, and credit growth to slow down to 2 per cent.
At present, the country is under a 40-day lockdown till May 3, and there are

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First Published: Apr 30 2020 | 9:56 PM IST

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