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70% Indian frims have enough cash for paying employees: EY study
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MUMBAI : At least 70% Indian companies in the non-financial space likely have enough cash to pay salaries to their employees for another two months, despite the financial stress induced by the pandemic, a study by consulting and audit firm Ernst & Young (EY) suggests.
In a recent study, EY analyzed the levels of fixed costs faced by top 8,700 non-financial companies with total operating revenue of ₹134 trillion.
The report citing EMIS data stated that the median employee and interest payment costs stood at just 8% of a company’s operating revenue, excluding other fixed costs like rent. “The low employee cost may be the reason why most of the private companies still have enough cash to pay their employees," said a partner of a top Indian
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