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At present, the country is under a 40-day lockdown till May 3, and there are indications of it being gradually withdrawn.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