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Coronavirus outbreak seen dragging down Q4 earnings

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MUMBAI : Corporate earnings for the fourth quarter of FY20 are expected to decline as the slowing economy was further hit by weak business activity following the covid-19 outbreak and the subsequent nationwide lockdown.

The quarter is likely to be a near complete washout for many companies, with automobiles, construction material, metals, mining, oil, and gas and consumable fuels expected to be worst hit in the three months ended March, said analysts.

Channel checks by analysts indicated that the overall consumption trend continued to be weak with the trajectory until mid-March broadly similar to the December quarter.

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