Corporate India’s YoY absolute earnings down 22% in Q4FY20: ICRA


Mumbai, June 18 | Covid-19 gave a heavy blow to corporate India’s financial performance in Q4FY20 as absolute earnings contracted by 22 per cent on YoY basis, an ICRA analysis showed on Thursday.

The analysis based on financial results of 184 companies excluding financial sector entities, showed that Indian corporate sector, which was already reeling under the impact of multiple headwinds since the beginning of the FY20, faced a major blow in the form of the Covid-19 pandemic outbreak.

According to the analysis, a YoY and sequential contraction was seen in revenues with aggregate revenues contracting by 2.9 per cent on a YoY basis in Q4FY20.

“During the same period, the EBITDA margin contracted by 30 bps on a YoY basis, and by 120 bps sequentially to 16.8 per cent, while PBT margins fell to multi-quarter lows of 7.1 per cent,” the analysis report said.

“Absolute earnings of the Corporate India contracted by 22 per cent and 12 per cent in Q4FY20 and FY20, respectively.”

Furthermore, the analysis report revealed that the impact is expected to be even more pronounced during Q1FY21, given the stringent two-month long nation wide lockdown in the country during the quarter.

Source: IANS

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Global Strategist and Philanthropist Drummi Bhatt returns to her homeland to bring about a vernacular infotainment content revolution

Global Strategist and Philanthropist Drummi Bhatt returns to her homeland to bring about a vernacular infotainment content revolution

Drummi Bhatt has successfully donned many hats including that of a global strategy professional, mentor, and investor to early-stage startups encouraging women entrepreneurship, and a philanthropist.

Drummi currently leads Market Intelligence and Strategy team at Mitsubishi Power, USA building corporate-level strategies for global markets. Drummi is also the founder of KarmaKonnect, a Woman and Rural Empowerment Non-Profit Organisation which works for projects in remote rural, tribal, and conflict areas.

Her philanthropy work has taken her to various corners of India, including, far end corners of Leh, Ladakh, Telangana, and remote areas of Chambal. During these visits, she got mesmerized by culturally rich, vernacular, and diverse, the true “Bharat”.

During her interaction across the country, she got enchanted by the whirlwind of talent residing across Bharat, which is not restricted to a language, city, or just tier-1 cities but is found in abundance all across tier-2, tier-3 cities, and rural-tribal clusters.

With OTT platforms ruling the world in 2020, Drummi decided to bring her strategic insights and data analytics strength to this field by joining hands with seasoned entrepreneurs, Rahul Narvekar and Narendra Firodia, to launch its kind, vernacular OTT platform, Letsflix.

In 2019, Drummi, Rahul, and Narendra have successfully launched India’s first vernacular infotainment app, LetsUp, which now caters to 1.5 million users and in 7 vernacular languages, a feat achieved by none. The trio has now been passionately working towards creating and delivering vernacular content for every viewer in India with Letsflix.


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