‘Sales of manufacturing firms shrank 41% in Q1’
By OUR CORRESPONDENT

 ‘Sales of manufacturing firms shrank 41% in Q1’By OUR CORRESPONDENT

‘Sales of manufacturing firms shrank 41% in Q1’ By OUR CORRESPONDENT

Spread the love

Mumbai, October 22 :
Aggregate sales of private sector manufacturing companies recorded a sharp contraction of 41.1% year-on-year in the first quarter of 2020-21, reflecting the impact of the pandemic-induced lockdown, an RBI analysis on Tuesday said. The data on the performance of the private corporate sector during the first quarter of 2020-21 has been drawn from abridged quarterly financial results of 25,361 listed non-government non-financial (NGNF) companies, the RBI said. “Aggregate sales of 1,619 manufacturing companies recorded a sharp contraction of 41.1% [y-o-y] in Q1:2020-21 following 15.6% decline in Q4:2019-20 reflecting the impact of the pandemic-induced lockdown,” it said. The contraction was broad-based and varied across industries only pharmaceutical companies recorded higher sales on both annual and sequential (q-o-q) bases.

Indian Chronicle

0 Reviews

Related post